What Is a Noncancellable Insurance Policy? 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 for as long as the customer pays the premiums.

What is a cancelable insurance policy?

Cancelable insurance is a type of policy that either the insurance company or the insured party may terminate during the coverage term. Usually, the insured can terminate a cancelable policy at any time, but If the insurer cancels the policy, they must give advanced notice and also refund any prepaid premium.

Is the word non cancelable?

or non·can·cel·la·ble

not subject to cancellation: a noncancellable insurance policy.