What type of insurance policy cannot be changed by the insurer up to a certain age if premiums are paid?

The correct choice is the noncancelable insurance policy. A noncancelable policy provides a level of security for the policyholder, ensuring that the insurer cannot change the terms of the policy or cancel it as long as premiums are paid on time, up to a specified age. This means that the benefits, coverage, and premium amount will remain unchanged during that period, offering peace of mind for the policyholder who can rely on their coverage remaining in effect.

This type of policy is particularly valuable for individuals who may be concerned about potential health changes or financial instability in the future, as it locks in the coverage against any future alterations by the insurer. This assurance can be essential for long-term planning, especially in terms of life and health insurance.

Other types of policies such as cancelable policies may allow the insurer to terminate coverage or change terms more freely, and nonrenewable policies do not provide the same long-term security as noncancelable policies since they may not renew after a certain period. Guaranteed renewable policies, while also providing some security, may allow for premium increases, which distinguishes them from noncancelable policies.