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In Business / College | 2025-07-04

A disability contract that has a set premium rate that cannot change is called a
A. noncancelable contract.
B. expense arrangement contract.
C. guaranteed renewable contract.
D. continuous indemnity contract.

Asked by 1jacobk

Answer (2)

A noncancelable contract is a disability insurance agreement with a fixed premium rate that cannot change, ensuring stability and security for the policyholder. The insurer cannot cancel the policy as long as premiums are paid. This type of contract is ideal for those seeking long-term coverage without the worry of increasing costs.
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Answered by Anonymous | 2025-07-04

A disability contract with a set premium that cannot change is called a noncancelable contract. This ensures that the policy remains active without premium increases or cancellations as long as payments are made. It is different from guaranteed renewable contracts and other types which may allow for premium adjustments. ;

Answered by GinnyAnswer | 2025-07-04

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