What is the Definition of Guaranteed Insurability (Gi) Benefit?

What is the Definition of Guaranteed Insurability (Gi) Benefit?

A supplementary life insurance policy benefit often provided through a policy rider that gives the policy owner the right to purchase additional insurance of the same type as the life insurance policy that provides the GI benefit on specified option dates. Also known as guaranteed insurability option (GIO).

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

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What is the Definition of Guaranteed Insurability (Gi) Benefit?

What is the Definition of Guaranteed Insurability (Gi) Benefit?

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