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
Meanings of Guaranteed:
Because of this, you get an officially guaranteed guarantee.
Meanings of Option:
Aggressive game where the ball carrier has the option to run, pass, pass or play late.
Sentences of Option
Choose the cheapest option for power supply
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Synonyms of Option
choice, alternative, recourse, possibility, course of action