Definitions for "Noncancellable"
A type of contract that cannot be canceled by the insurance company and is used for health and disability insurance.
A policy that cannot be cancelled by the insurer prior to a certain age.  Premiums may be increased only by the amounts specified at the time the policy is issued. (Compare to guaranteed renewable)
A contract of disability income insurance in which the insured has a right to continue in force by payment of premiums, as set forth in the contract, for a substantial period of time, also as set forth in the contract. During that period of time, the insurer has no right to make any change in any provision of the contract. Note that this is in contrast to Guaranteed Renewable, in which the premium may be increased by classes. The premium for noncancellable policies must remain as stated in the policy at the time of issue.