An insurance policy in which the insurer is required to renew the policy for a specified amount of time regardless of changes to the health of the insured. The agreement requires that premiums are paid on time and that the insurer makes no changes except if a premium change is made for an entire class of policyholders. also called guaranteed renewable or conversion privilege or convertible term insurance.
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Definition of guaranteed insurability: An insurance policy in which the insurer is required to renew the policy for a specified amount of time regardless of changes ...
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This option allows the client to increase their level of cover without disclosing any further medical, pastimes or occupation details.
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Definition of guaranteed insurability: A contract option stating that the insured may purchase extra insurance in specified increments at specified times without ...
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Business Definition for: guaranteed insurability. Dictionary of Finance and Investment Terms. guaranteed insurability. feature offered as an option in life and ...
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Brief and Straightforward Guide: What Is Guaranteed Insurability?