NEGATIVE.......

The term Guaranteed Renewable in a Disabilty Income Policy simply
means that the carrier can NOT refuse to accept the PROPER
premium that is due. It is the opposite of the term "Guaranteed at
the OPTION of the Carrier".

The definition that you have listed below is the definition that is
used by most carrier's for a contract that is defined as being,
"Non-Cancellable".

There is a great deal of confusion, as the two terms "seem"
to sound the same. They are NOT. The term Non-Cancellable
contains everything that I have written above, about G/R PLUS it add's
that the Premium can NOT be increased due to age or
occupational hazard. It can only be increased on a CLASS Basis.
That is that EVERY contract in that same class receives the EXACT
same increase.
Rather than do that most carriers would simply discontinue the
issuance of that form of policy, and simply offer a "new & improved" model......................
Cal Lester CLU




winterqqqq[at]hotmail.com wrote:
- quote -

I am looking at a disability proposal and it says that it is
"guaranteed renewable until age 65."

I presume that this means that the premium cost cannot change for the
insured until age 65 unless the rate for the occupational class for the
insured increases and that the premium will always be based on the age
at the time of issue. In other words, a 60 year old will always have
the rate of a 40 year old if the policy was issued at age 40 but the
premium could be increased if the occupational class is increased (but
would still be for a 40 year old within that class). I am also
presuming that the policy cannot be cancelled for any reason other than
non-payment or fraud even if the person has disability claims along the
way.

Is anything in the above likely to be untrue.

Thank you,

Dennis