What guarantees a guaranteed renewable policy?

A guaranteed renewable policy ensures that the insurer must renew the policy as long as the premiums are paid. This means that the policyholder can expect continued coverage without the insurer having the right to refuse renewal based on the insured's health or any changes that might occur after the policy is issued.

While premiums may still fluctuate, which is why the other options regarding premium increases and changes in coverage do not apply here, the core guarantee of renewal is what distinguishes this type of policy. This characteristic provides a level of security and predictability for the policyholder, allowing them to maintain their coverage over time without the fear of being denied renewal.

The focus of guaranteed renewable policies is on the insurer's obligation to renew the contract as long as the payment terms are met, highlighting the importance of continuous coverage in health insurance contexts.