What is guaranteed renewable health insurance?

Guaranteed renewable health insurance is a type of health insurance policy that ensures the policyholder can renew their coverage regardless of changes in health status or claims made. As long as premiums are paid on time, the insurer cannot cancel the policy or refuse renewal based on the insured's health condition. This offers peace of mind, especially for individuals with chronic health issues, as it protects them from losing coverage when they need it most. However, premiums may still increase upon renewal.