Which policy type ensures renewal without needing proof of insurability until age 65?

A guaranteed renewable policy is a type of insurance that provides the policyholder with the right to renew their coverage without needing to provide proof of insurability, up until a specified age, which in this case is 65. This means that as long as the premiums are paid on time, the insurer is obligated to renew the policy regardless of changes in the insured's health. This feature is particularly important for individuals who may develop health issues and would otherwise be denied coverage.

In contrast, other policy types have different conditions for renewal. A cancelable policy can be canceled by the insurer at any time, while a conditionally renewable policy might require proof of insurability under certain conditions, compromising the security of renewal. A non-cancelable policy prevents the insurer from canceling the policy or raising premiums, but it doesn’t necessarily guarantee renewal without proof of insurability. Thus, the guaranteed renewable policy stands out for its assurance of continued coverage without additional health assessments until the designated age.