Rights an individual has in certain situations when insurance companies are required by law to sell or offer a Medigap policy. In such situations, an insurance company cannot deny insurance coverage or place conditions on a policy but must cover the individual for all preexisting conditions and cannot charge more for a policy because of past or present health problems. Also called Medigap protections .

Clause in an insurance policy that means the insurance company must renew the policy as long as premium payments are made by the insured. However, the premium may be increased when it is renewed if it raises premiums for a particular class such as everyone in a geographic area with the same type of policy. These policies may have age limits of 60, 65, or 70 years or may be renewable for life.
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This term applies to a number of different types of health insurance. Guaranteed renewable policies cannot be canceled by the insurance company as long as premiums are paid on time. Premiums may be increase, however, as long as premiums on all similar policies for the company are also increased.

Insurance policy that means the insured has the right to have the policy in force as long as he or she pays the premiums. However, the insurance company may increase the premium rate when the policy is renewed. These policies may have age limits of 60, 65, or 70 years or may be renewable for life. Also called guaranteed renewable policy .

Insurance policy that pays the full costs of replacing damaged property without any deduction for depreciation and without a dollar limit.

Health insurance policy in which all eligible members of a certain group who apply and meet certain conditions are offered coverage.

Individual who promises to pay the medical bill by signing a form agreeing to pay or who accepts treatment, which constitutes an expressed promise.
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One who gives a Guarantee.

In the insurance business, an organization that protects policy owners from losses when an insurance company becomes insolvent.

Person appointed by the court who is designated to act on behalf of a minor or an incompetent adult such as parent, trustee, committee, conservator, or other person or agency. Also called legal guardian .