Guaranteed Insurability Option

Guaranteed Insurability Option,

What is The Meaning of Guaranteed Insurability Option?

Guaranteed Insurability Option means: Guaranteed insurance option is the confirmation of an insurance policy which requires the insurance company to extend the policy for a specified period, regardless of changes in the insurer's health. In the case of life insurance with this option it says:

  • The insurer cannot make any change other than a change in premium, which applies to all classes or categories or the insured.
  • The insured must pay a premium.

It can also be referred to as guarantee termination options, conversion risk insurance, renewable risk insurance or conversion entitlement risk insurance.

Literal Meanings of Guaranteed Insurability Option

Guaranteed:

Meanings of Guaranteed:
  1. Because of this, you get an officially guaranteed guarantee.

Option:

Meanings of Option:
  1. Aggressive game where the ball carrier has the option to run, pass, pass or play late.

Sentences of Option
  1. Choose the cheapest option for power supply

  2. Your second script will be activated when you read this

Synonyms of Option

choice, alternative, recourse, possibility, course of action