Question

In contrast to a guaranteed renewable policy, a non-cancelable policy...

a) May cancel the policy only at renewal
b) May raise premiums at policy renewal
c) May raise premiums at any time
d) May never raise premiums

Answer 1

A non-cancelable policy may raise premiums at any time.

Step-by-step explanation:

A non-cancelable policy, in contrast to a guaranteed renewable policy, may raise premiums at any time. This means that the insurance company has the right to increase the premiums during the policy term, regardless of renewal. The premiums on a non-cancelable policy are, however, typically fixed for the duration of the policy and cannot be canceled as long as the policyholder continues to make premium payments.