Matching Pairs Risk Chp. 15 pt.2Online version Risk Chp. 15 pt.2 by Ryan Brown 1 Non-cancelable policy 2 Waiver-of-premium provision 3 Conditional renewable policy 4 Guaranteed renewable policy 5 Nonrenewable 6 Residual Disability 7 Total disability 8 Partial Disability the policyholder can renew the policy until specified age; however, the insurer has the right to decline renewal under conditions specified in the contract. if the insured is totally disabled for 90 days, future premiums will be waived as long as the insured remains disabled. which expire at the end of the protection period. These policies typically provide coverage only for a limited period, and the policyholder does not have the contractual right to renew the policy. is one in which the insurer guarantees to renew the policy at each anniversary date. However, the insurer has the right to increase the premium rates for the underwriting class in which the insured is placed. due solely to injury or sickness, you are unable to perform the material and substantial duties of your own occupation. means that you can perform some but not all the duties of your occupation. means that you are gainfully employed and not totally disabled but, solely because of sickness or injury, your loss of income is at least 15 percent of your prior income. the insurer cannot change, cancel, or refuse to renew the policy as long as premiums are paid on time. In addition, the insurer cannot change the premiums or rate structure specified in the policy.
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