Author
Bowtie Team
Updated on
2025-07-10
Disclaimer: This article is translated with the assistance of AI.
Ever noticed ‘Guaranteed Renewal’ and ‘Lifetime Renewal’ in your insurance booklet? Learn what they mean, how renewal policies work, and why lifetime options benefit you most—Bowtie breaks it down clearly!
What is Guaranteed Renewal?
In the past, before the Voluntary Health Insurance Scheme (VHIS) was introduced, many medical insurance products were on an “annual renewal” basis. Under this arrangement, the insurance company has the right to decide whether to renew the policy for the client. For those with poor claims records or deteriorating health (the insurance company has the right to request detailed medical reports), the company can adjust the policy’s coverage or add loading , or even refuse to renew it altogether.
If a policyholder is denied renewal by the insurance company, getting another medical insurance policy can be more expensive than for the average applicant, and it might come with more restrictions.
On the other hand, under a “guaranteed renewal” arrangement, as long as the policyholder continues to pay the premiums, the insurance company must keep the policy in force until a specified age, such as 75 or 80. Regardless of the claims history or changes in the policyholder’s health, the company is obligated to renew the policy without adjusting the coverage or adding extra premiums.
What is Guaranteed Lifetime Renewal?
While “guaranteed renewal” ensures ongoing coverage, most policies still have an age limit for renewal, like 75 or 80, meaning policyholders lose this benefit after that age.
To address this, the VHIS for certified products sets a minimum requirement: guaranteed renewal up to at least 100 years old, unaffected by changes in health, age, or claims history. In fact, most VHIS flexible plans on the market go a step further, extending this to lifelong coverage—known as guaranteed “lifetime renewal” .
Keep in mind, guaranteed “lifetime renewal” doesn’t mean premiums stay the same forever. The insurance company can still adjust base premiums based on the policyholder’s age, and they may tweak the overall premium levels due to medical inflation or general claims trends, adjusting insurance product premiums from time to time.
Renewal Policies for Bowtie’s Insurance Products
Beyond VHIS, Bowtie’s other insurance products also offer the advantage of guaranteed “lifetime renewal”:
| Bowtie Product | Renewal Terms |
| Bowtie VHIS Standard | Guaranteed renewal up to 100 years old |
| Bowtie VHIS Flexi Series | Guaranteed lifetime renewal |
| Bowtie Pink VHIS Series | Guaranteed lifetime renewal |
| Bowtie Term Life | Guaranteed renewal up to 100 years old |
| Bowtie Term CI Series | Guaranteed renewal up to 100 years old* |
| Bowtie Cancer Fighter Insurance | Guaranteed lifetime renewal |
| Bowtie Touch Wood Protector | Annual renewal up to 60 years old |
- * With your confirmation as the policyholder, Bowtie will switch things over when the insured hits 86 years old. We’ll transfer the “Term CI Multiple Cover” and “Term CI Early Stage and Multiple Cover” to just the “Term CI” and set it to auto-renew from 86 right up to 100. That said, the early-stage and multiple critical illness protections will wrap up on the anniversary after turning 85, and once you claim for a severe critical illness, the policy ends. For the full scoop, check out the “Term CI” policy details and risks. Oh, and if critical illness strikes late in life, you might end up paying more in premiums than the coverage amount.
Bowtie Premium Calculator for Easy Renewal Estimates
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