An insurance policy which the insured has the right to continue in force (by the timely payment of premiums as set forth in the contract) for a specified period of time. During that time, the insurance company cannot alter or cancel the policy.
a policy which the insured has the right to continue in force by the timely payment of premiums set forth in the policy to a specified age, (usually age 50) during which period the insurer has no nght to make unilaterally any change in any provision of the policy while the policy is in force. Return to Menu
Some policies cannot be cancelled by the insurer unless premiums are not paid or fraud has been committed.