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If a policy is guaranteed renewable, the policy can be renewed by the insured regardless of health.

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Q: Guaranteed renewable A and H policy?
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Will your existing disability insurance premium change if your new job is in a higher risk class?

This is a very good question and it depends on your current disability contract. If your existing disability contract is non-cancellable and guaranteed renewable then the answer is no. If a contract is guaranteed renewable then the company guarantees that coverage cannot be cancelled as long as premiums are paid, however the company can increase the rates. If a contract is non-cancellable in addition to guaranteed renewable then the company cannot change the policy provisions or increase the rates. In summary it if your existing policy is non-cancellable and guaranteed renewable then changing occupations will not change your premium or change your benefits.


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It depends on the type of insurance. If you have a whole life or guaranteed universal life policy, the rates are set when you take out the policy and the company cannot increase the rate, ever. If you have a renewable term insurance policy, the rate will increase each time you renew the term. The agent that sold you the policy should have fully explained rate increases and how they worked and if your policy was subject to them.


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