The financial definition for Guaranteed renewable policy insurance:
A type of insurance policy that requires the insurer to renew the policy to an individual regardless of health changes. No changes may be made to an individual policyholder unless the same change is applied to all policyholders.
Similar Matches
Guaranteed bond
Guaranteed bond A type of bond for which a firm other than the issuer guarantees its interest and principal payments.
Guaranteed insurability
Guaranteed insurability A life and health insurance policy feature that enables the insured to add coverage at future times and at fixed and agreed-upon rates regardless of health conditions.
Guaranteed insurance contract
Guaranteed insurance contract A contract promising a stated nominal interest rate over some specific time period, usually several years.