Final answer:
The disability policy allowing renewal beyond age 65 for individuals still actively at work is typically known as a "Guaranteed Renewable Policy." This policy accommodates older workers wishing to continue their employment past the traditional retirement age, aligning with shifts in work and retirement patterns.
Step-by-step explanation:
The type of disability policy that states a policy can be renewed beyond age 65 if the insured is actively at work is often referred to as a "Guaranteed Renewable Policy" or an "Age-Rated Renewable Policy." These policies assure that as long as the insured individual continues to be actively employed, they can renew their disability insurance coverage despite their age. Such policies serve to provide a safety net for older workers who choose to remain in the workforce beyond traditional retirement age, reflecting a shift in societal norms where many individuals are working later into life.
While Social Security provides a disability benefit for those who are unable to work due to a qualifying disability, private disability insurance policies like the one described aim to offer continued coverage for those who can and wish to remain employed beyond the typical retirement age. The evolving landscape of retirement and work for Americans, as evidenced by changes in Social Security eligibility ages and the attitudes of the Baby Boomer generation, has influenced the options available in the disability insurance market.