Which type of health insurance allows for premium increases based on company policy?

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A Conditionally Renewable Policy is indeed the type of health insurance that allows for premium increases based on the company's guidelines. This type of policy typically stipulates conditions under which the insurer can change the premium rates. Although the insurer is required to renew the policy for a certain period, they have the flexibility to adjust premiums as long as they follow a predetermined process.

In contrast, a Guaranteed Renewable Policy guarantees that the policyholder can renew the coverage without changes to the insurability, but premiums can still be raised for an entire class of insureds, not on an individual basis. The Cancel-able Policy allows the insurer to terminate the coverage under certain circumstances, while an Optional Renewable Policy gives the insurer the discretion regarding renewal, often resulting in higher risks.

Understanding these distinctions is crucial when examining different health insurance plans, particularly in assessing how and when premium adjustments can occur.

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