What Does Optionally Renewable Mean?

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

Optionally Renewable

Optionally Renewable

A provision in a health policy, for example, that gives the insurer the right to renew the contract or not at its option on the policy's anniversary date; midterm cancellation is not permissible.

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

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