What type of health insurance policy allows the insured to renew the contract periodically, subject to certain conditions?

A conditionally renewable contract is a type of health insurance policy that allows the insured to renew the coverage periodically, but with specific conditions that may apply. This type of policy ensures that the insurer cannot cancel coverage for reasons related to the insured's health, as long as the insured meets the renewal conditions outlined in the policy. However, the insurer retains the right to decline renewal if certain criteria are not met, which might involve changes in the insured's health status or meeting specific policy conditions.

This differs from a permanently renewable contract, where the policyholder has a strong guarantee of renewal without conditions tied to health status. A short-term renewable contract typically allows for renewal only over a brief period, whereas a term insurance contract does not offer renewal options, as it provides coverage for a fixed term without continuity beyond that period. Understanding these distinctions is crucial for navigating insurance policy options effectively.