MLchartDataset catalogue

Optionally renewable

Term · Insurance and risk management · MLC-T-INS-002429

A type of insurance policy, typically in health or disability insurance, where the insurer retains the right to refuse to renew the policy at the end of each policy period. The insurer can also modify the premium rates or terms for the entire class of policyholders. This provides less security to the insured compared to guaranteed renewable or non-cancellable policies.

Table 1. Record
IdentifierMLC-T-INS-002429
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002429",
  "term": "Optionally renewable",
  "field": "Insurance and risk management",
  "definition": "A type of insurance policy, typically in health or disability insurance, where the insurer retains the right to refuse to renew the policy at the end of each policy period. The insurer can also modify the premium rates or terms for the entire class of policyholders. This provides less security to the insured compared to guaranteed renewable or non-cancellable policies.",
  "url": "https://mlchart.com/terminology/insurance/optionally-renewable/"
}

Record 2,401 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.