Under a Guaranteed Renewable Accident and Health policy, what right does the insurer retain?

In a Guaranteed Renewable Accident and Health policy, the insurer retains the right to increase the premium rate for an entire class of insureds. This means that while the insurer is committed to renewing the policy as long as premiums are paid, they can adjust the premium rates based on the overall experience of the insured group. This is an important aspect of these policies as it allows insurers to manage their risk and financial viability by making adjustments over time in response to claims experience, loss ratios, or other factors impacting their book of business.

The other options pertain to actions that would fundamentally alter the terms of the policy or violate the principles of guaranteed renewal. Changing benefits or cancelling the policy without notice would eliminate the promised continuity of coverage, which is a core characteristic of guaranteed renewable policies. Limiting coverage to specific situations would likewise contradict the nature of the policy, as it could restrict the scope of protection initially provided to the insured.