Reported 9 months ago
Having a guaranteed renewal clause in your insurance policy ensures you won't be affected by policy changes or sales stoppages. Recent market fluctuations in the insurance industry, especially in accident insurance, have led to insurers informing policyholders of non-renewal after expiration, or removing policies with poor sales or high loss ratios. To safeguard your rights in a rapidly changing market, opt for policies with a 'guaranteed renewal' mechanism clearly stated in the terms. Check your policy for this provision to ensure substantial protection, particularly in the case of accident insurance modifications post-pandemic.
Source: YAHOO