When an insurer issues an individual health insurance policy that is guaranteed renewable, what does the insurer agree to?

When an insurer issues a guaranteed renewable health insurance policy, they agree to renew the policy as long as the insured continues to pay the premiums and the policy remains in force. However, this does not imply that the insurer is obligated to renew it for the insured's entire lifetime or specify an age limit like 55 or 65 when the coverage would cease.

The correct understanding is that guaranteed renewable policies have certain stipulations that allow for renewal for a predetermined duration or until reaching a certain age. In some cases, this commonly aligns with insurance policies designed to renew until retirement age, such as 65. This means that as long as the insured keeps paying premiums, the policy can be maintained until they reach that specified age, thus providing security and consistent coverage during that critical period of life.

In contrast to options that suggest perpetual renewals or arbitrary age limits without regard to the specifics of the policy, the correct answer focuses on the standard practice of guaranteeing renewability typically aligning with coverage until a certain age, providing clarity on the insurer's commitment.