Definition of «guaranteed renewability»

"Guaranteed renewability" means that something, such as an insurance policy or a contract, can be renewed or extended without being terminated or canceled as long as certain conditions are met. It provides assurance that it can be continued or extended.

Sentences with «guaranteed renewability»

Now, this was a welcome move for the insurers» point of view as well, because continuous renewals only guaranteed renewability of the policy for life which meant a longer flow of insurance premium as well. (policybazaar.com)
This policy comes with guaranteed renewability, but only covers insureds through age 80. (skipthemed.com)
Return of Premium Benefit Rider: If you want disability insurance but would like something in return in case you are one of the lucky (blessed) people to not suffer a disability, you can get all or a portion of your premiums returned by policy lapse or cancellation, your death, or the end of the policy guaranteed renewability period. (termlife2go.com)
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