Guaranteed Renewable

Guaranteed renewable is one of the most valuable consumer protections in Australian insurance, providing certainty that coverage will continue throughout your working life regardless of health deterioration. Under guaranteed renewable terms, Australian insurers contractually commit to renew your policy each year until the specified age limit (typically 65, 70, or 99) without any medical reassessment, regardless of claims history, health diagnoses, lifestyle changes, or occupation shifts. This protection is particularly critical in Australia's voluntary insurance market where individuals can develop chronic conditions, suffer accidents, or be diagnosed with serious illnesses during the policy term. Without guaranteed renewable status, insurers could decline renewal, add exclusions for new conditions, or dramatically increase premiums based on individual risk changes. Most modern Australian life, TPD, trauma, and income protection policies include guaranteed renewable provisions as standard, but it's essential to verify this in the PDS. The guarantee has limits - insurers can still increase premiums based on age progression (stepped premiums), CPI indexation, or changes affecting the entire risk pool (but not your individual circumstances). They can also decline renewal for non-payment, fraud, or reaching the maximum coverage age. Guaranteed renewable status means that even if you develop cancer, heart disease, or other serious conditions, your existing coverage continues uninterrupted and without condition-specific exclusions. This transforms insurance from year-to-year protection into long-term risk management. Australian regulations require clear disclosure of guaranteed renewable terms, any exceptions, and circumstances where insurers might legitimately decline renewal.