A type of insurance policy that requires the insurer to renew the policy to an individual regardless of health changes. No changes may be made to an individual policyholder unless the same change is applied to all policyholders.
GUARANTEED RENEWABLE POLICY INSURANCE
Meaning of GUARANTEED RENEWABLE POLICY INSURANCE in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012