What Does Optionally Renewable Contract Mean?

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What does Optionally Renewable Contract mean? Read on to discover the definition & meaning of the term Optionally Renewable Contract - to help you better understand the language used in insurance policies.

Optionally Renewable Contract

Optionally Renewable Contract

Health insurance policy in which the insurer reserves the right to terminate the coverage at any anniversary or, in some cases, at any premium due date, but does not have the right to terminate coverage between such dates.

We hope the you have a better understanding of the meaning of Optionally Renewable Contract.

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