A guaranteed renewable disability insurance policy is renewable under what condition?

A guaranteed renewable disability insurance policy allows the insured to renew their coverage under specific conditions stipulated in the contract. This means that the policyholder can continue their coverage up to a predetermined age, regardless of any changes in health status or claims experience. The insurance company cannot deny renewal as long as the premiums are paid on time, but the option to renew is tied to the insured reaching a specified age.

Renewal at a specified age is important because it sets a clear boundary for when the coverage will end, ensuring that the insured is aware of their long-term coverage limits. This feature of guaranteed renewable policies offers some predictability and security to policyholders as they plan for their futures, ensuring that their access to coverage remains intact until they reach an age defined in their policy.