Renewal is the process by which your insurance policy is extended for another term, usually one year. In Canada, individual health insurance policies are guaranteed renewable, meaning the insurer cannot cancel your policy as long as you continue to pay premiums — they can, however, adjust your premium at renewal. Premium increases at renewal can be due to age-band changes, inflation, claims experience across the plan's risk pool, or general rate adjustments. Your insurer is required to give you advance notice of any premium changes at renewal. Renewal is also an opportunity to review your coverage levels, add or remove dependents, and adjust riders or add-ons. Guaranteed renewability is a critical consumer protection — it means your insurer cannot single you out and cancel your policy because you made claims.