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What is a “noncancellable” policy and how does it work?

April 26, 2017policy

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What is a “noncancellable” policy and how does it work?

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• A: With a noncancellable policy, also called a “guaranteed renewable” policy, you’ll receive individual insurance under that policy as long as you keep paying the monthly premium. The insurance company can raise the cost, but cannot cancel your coverage.