Identification

• 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.
  
  

Effects

• 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.
  
  

Types

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

Considerations

• 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.