What type of renewability provision does Sanjay's individual health insurance policy have?

A policy that is renewable at the insurer's option means that the insurer has the discretion to decide whether or not to renew the policy at the end of the term. This provision typically allows an insurer to refuse renewal based on certain factors, such as changes in the insured's health status or claims history.

In this scenario, the key aspect is that the renewability does not guarantee that the policy will continue without the insurer's review or approval. This contrasts with guaranteed renewable policies that promise renewal regardless of changes in the insured's situation, or noncancelable policies that cannot be canceled or refused renewal as long as premiums are paid.

Also, conditionally renewable policies allow for renewal but can have specific conditions tied to the insured's circumstances, which isn't the case if the renewal is solely at the insurer's discretion. In this way, understanding how renewability works, particularly the nuances between different types, is important for consumers to navigate their options when selecting health insurance policies.