What Is Guaranteed-Renewable Health Insurance?

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    • Guaranteed-renewable health insurance is coverage that the beneficiary will be able to renew once his current policy is up---guaranteed.

    Time Frame

    • This guarantee is only good as long as you pay your premiums on time every month. If you miss a payment, your insurer may have the option of dropping your coverage.


    • Although you can renew it, the insurance company can also raise its rates in response to a claim, new health condition or anything else that would raise its financial risk.


    • Rates can be raised on both individual guaranteed-renewable health plans and group guaranteed-renewable health plans.


    • If you have the choice of a guaranteed-renewable policy and a non-cancelable policy, the latter may be better. With a non-cancelable policy, your premiums cannot go up like they can with a guaranteed-renewable policy.

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