It is a contractual clause allowing the insured to continue insurance only at the insurer's option. What is it?

Question

Quizplus · Accepted Answer

Optional renewability allows the insurer to decide whether or not to renew the policy when it expires. This is different from guaranteed renewability, which requires the insurer to renew the policy as long as the premiums are paid on time, and is a more favorable option for the insured. A waiting period refers to the time period between when a policy is purchased and when coverage begins, and ADL refers to Activities of Daily Living which are used to measure a person's ability to perform basic self-care tasks.

It Is a Contractual Clause Allowing the Insured to Continue