What is meant by 'guaranteed insurability'?

Guaranteed insurability refers to a feature in some insurance policies that allows policyholders to increase their coverage without undergoing a medical examination or providing evidence of insurability. This is particularly important for individuals who may fear that their health may deteriorate in the future, making them uninsurable or subject to higher premiums later on. By having the guaranteed insurability option, policyholders can secure additional coverage at predetermined times or under certain conditions without the added stress or difficulty of medical evaluations.

This feature provides peace of mind, ensuring that individuals can adapt their insurance coverage as their needs change, such as after major life events like marriage, having children, or changes in income. The flexibility it offers is a valuable aspect of the policy, catering to the policyholder's future needs. Understanding this concept is crucial for anyone considering accident and sickness insurance, as it impacts both the coverage and affordability of maintaining adequate protection over time.