What does "Guaranteed Renewable" mean in a long-term care insurance policy?
Guaranteed Renewable =
When a policy cannot be canceled by an insurance company and must be renewed when it expires unless benefits have been exhausted. The company cannot change the coverage or refuse to renew the coverage for other than nonpayment of premiums (including health conditions and/or marital or employment status.) any guaranteed renewable policy, the insurance company may increase premiums, but only on an entire class of policies, not just on your policy.