insurance

What is optionally renewable?

 

 

What is optionally renewable?

The Bankrate.com financial term of the day is: "optionally renewable."

Optionally renewable is a term that refers to health insurance, and it means that your health plan can't drop you whenever it feels like it. Instead, the insurer may cancel you only at specific times, such as on your policy's anniversary date, or when your next premium is due.   
 
If you have optionally renewable health insurance, you can't lose your coverage at the insurance company's whim. There are restrictions on when you can be canceled.

To get an insurance quote, visit the Insurance section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Tara Baukus Mello

Musk defends Tesla Autopilot, shares plan to build trucks

Tesla's CEO outlines plan to build more car models, be a player in public transportation and continue developing its Autopilot technology to a future of fully autonomous cars.  ... Read more


Connect with us