Conditionally Renewable Policy.

A conditionally renewable policy is an insurance policy that can be renewed by the policyholder, subject to certain conditions. The conditions typically relate to the policyholder's age, health, or payment of premiums. If the policyholder meets the conditions, the policy can be renewed. If the policyholder does not meet the conditions, the policy will not be renewed.

What does incontestable mean in insurance? Incontestability is a key provision in most insurance policies. It protects the insured from having their claims denied by the insurer on the grounds that the policy was not in force at the time of the incident. In other words, once a policy has been in force for a certain period of time, usually two years, the insurer cannot contest the policy or deny coverage. What does it mean when a policy is guaranteed renewable? A guaranteed renewable policy is a type of insurance policy that cannot be canceled by the insurer, as long as the policyholder continues to pay the premiums. This type of policy is often used for life insurance or health insurance. What is renewability provision? A renewability provision is a clause in an insurance contract that gives the insurer the right to refuse to renew the policy when it expires. The insurer may exercise this right if the insured has failed to pay premiums, made a material misrepresentation, or has had a claim paid under the policy. When can a renewable term life insurance policy be renewed? A renewable term life insurance policy can be renewed at the end of the policy term, typically every 5 or 10 years. The policyholder will need to undergo a medical exam in order to renew the policy, and the premium will increase based on the policyholder's age and health at the time of renewal. What is considered to be a characteristic of a conditionally renewable? A conditionally renewable insurance policy is one that can be renewed by the policyholder, subject to certain conditions. The most common condition is that the policyholder must remain in good health. Other conditions may include remaining employed or meeting certain eligibility requirements.