A provision in an insurance policy that gives the insured the right to continue the policy in force by the timely payment of premiums for a substantial period of time, during which period the insurer is prohibited from making unilaterally any change in any provision of the contract, while the contract is in force, other than a change in the premium rate for classes of policyholders.
A contract that the insured person or entity has the right to continue in force by the timely payment of premiums for a substantial period of time, during which period the insurer has no right to make unilaterally any change in any provision of the contract, while the contract is in force, other than a change in the premium rate for classes of policyholders.
A health insurance contract that gives the policyowner the right to continue coverage by the timely payment of premiums for a substantial period of time, during which period the insurer has no right to make any change in any provision of the contract other than a change in premium rate for classes of insureds. Also referred to as guaranteed continuable.
Contract under which an insured has the right, commonly up to a certain age, to continue the policy by the timely payment of premiums. Under renewable contracts, the insurer reserves the right to change premium rates by policy class. Health Insurance Coverage that provides benefits as a result of sickness or injury. Policies include insurance for losses from accident, medical expense, disability, or accidental death and dismemberment.
Contract under which an insured has the right, commonly up to a certain age, to continue the policy by the timely payment of premiums. Under renewable contracts, the insurer reserves the right to change premium rates by policy class. J K M N O X Y Z
An insurance contract that the insured has the right to continue in force by the timely payment of premiums to a specified age. During this period of time the insurer has no right to make any change in any provision of the contract while the contract is in force, except that the insurer may make changes in premium rate by classes.