Fundamentos de Accidente y SaludPregunta 488 de 716
An 'optionally renewable' health policy gives the insurer the right to:
a.Cancel the policy in the middle of a term without any notice to the insured, which this provision does not permit
b.Refuse renewal or change premiums on policy anniversaries or premium due dates, at its own option
c.Keep the premium level for the entire life of the policy
d.Renew the coverage indefinitely no matter what
Explicación
An optionally renewable policy reserves for the insurer the option, at renewal (policy anniversaries or premium due dates), to either decline renewal or adjust the premium, giving the insurer substantial discretion. It does not lock in premiums, does not guarantee renewal, and generally does not permit cancellation in the middle of a paid term (renewability decisions occur at the renewal points). Optionally renewable is a weaker guarantee for the insured than guaranteed renewable.
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Preguntas relacionadas de este tema
- Many disability income policies include a waiver of premium feature that:
- Under a 'guaranteed renewable' health policy, the insurer:
- A 'conditionally renewable' policy allows the insurer to decline renewal:
- On-the-job injuries and illnesses of most employees are typically covered by:
- A hospital indemnity (hospital confinement) policy pays:
- An accident-only policy covers:
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)