QQuestionBusiness Management
QuestionBusiness Management
With Optionally Renewable Health policies, the insurer may:
A. renew the policy only if no claims have been filed the previous year.
B. renew the policy only with the insured's consent.
C. review the policy whenever they please and determine whether or not to renew it.
D. review the policy annually and determine whether or not to renew it.
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Answer
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Step 2: Understand the key characteristics of Optionally Renewable Health Policies
- These are health insurance policies where the insurance company has discretion about renewal - The term "optional" means the insurer is not legally obligated to automatically renew the policy
Final Answer
Review the policy annually and determine whether or not to renew it. Explanation: In Optionally Renewable Health policies, the insurer has the right to review the policy annually and make a renewal decision based on their assessment of risk, claims history, and other relevant factors.
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