A noncancellable insurance policy is a life or disability insurance policy that an insurance company can’t cancel, increase the premiums on or reduce the benefits of as long as the customer pays the premiums. Noncancellable insurance policies give the policyholder peace of mind that the cost, amount of coverage and term are known and that they won’t have to re-qualify for the policy at some point in the future when their health might not be as good and insurance might be harder to get.
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