What type of changes can be made to a guaranteed renewable health insurance policy quizlet?

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What type of changes can be made to a guaranteed renewable health insurance policy?
Which of the following statements about guaranteed renewable health insurance policy is correct quizlet?
What is a guaranteed renewable health policy?
Which renewable option does not guarantee renewal and allows the insurance company to refuse renewal of a policy at any premium due date?

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• The Time Limit on Certain Defenses provision limits the time during which the insurance company may challenge the validity of an insurance claim based on a misstatement made on the insured's application.
• Under the time limit on certain defenses provision, the policy is incontestable after it has been in force a certain period of time, usually two years.
• This is similar to the incontestable clause in a life insurance policy. Unlike life policies, a fraudulent statement on a health insurance application is grounds for contest at any time, unless the policy is guaranteed renewable
• An insurance company can usually contest the information contained in an accident and health application starting on the date the insurance company dates the policy
• There is a TIME LIMIT for which you must DEFEND yourself. This applies to the contestable period (application), preexisting conditions, and new claims (conditions that must be met while a claim is pending.
• If you file a claim that you broke your leg yesterday, and the insurance company sees you moving a grand piano up 5 flights of stairs, you will probably have to DEFEND your claim. However, at some point, it is expected your leg will heal.

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What type of changes can be made to a guaranteed renewable health insurance policy?

Guaranteed renewable means that you have the right to continue the policy as long as the premiums are paid on a timely basis. An insurer cannot terminate the policy if your health declines. The insurer also cannot make any change in any provision of the policy while the insurance is in force without your agreement.

Which of the following statements about guaranteed renewable health insurance policy is correct quizlet?

Which of the following statements about a Guaranteed Renewable Health Insurance policy is CORRECT? A Guaranteed Renewable Health Insurance policy can have increasing premiums at time of renewal.

What is a guaranteed renewable health policy?

A requirement that your health insurance issuer must offer to renew your policy as long as you continue to pay premiums. Except in some states, guaranteed renewal doesn't limit how much you can be charged if you renew your coverage.

Which renewable option does not guarantee renewal and allows the insurance company to refuse renewal of a policy at any premium due date?

The conditionally renewable provision in an insurance policy allows an insurance company to cancel immediately, not renew at the renewal date, or increase premiums on a policyholder under certain conditions. This provision benefits the insurer, not the policyholder.