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Guaranteed Insurability |
Also found in: Acronyms | 0.01 sec. |
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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 Insurability A provision in some life and health insurance contracts stating that the insurance contract will be renewed at the end of its term at a certain, stated premium without regard for the policyholder's health when the contract expires. One generally must pay extra for guaranteed insurability. It should not be confused with a guaranteed insurance contract. See also: Pre-Existing Condition. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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