Which type of policy must be guaranteed renewable?

• A. Whole life
• B. Credit disability
• C. Term life
• D. Long term care

Answer: (D)

Long-term care policies must be guaranteed renewable. This means the insurer cannot cancel the policy or refuse to renew it due to age or health, as long as premiums are paid. The insurer can raise premiums over time, but the policy stays in force and the insured maintains coverage into the future. This protection is essential because the need for long-term care can emerge unexpectedly, and guaranteed renewal ensures ongoing access to benefits without being dropped due to health changes. Other policy types don’t carry this same requirement in the same way—term life, for example, can be renewed or converted, but renewal isn’t guaranteed for life and may involve underwriting; the other categories have different structures and protections.