1. The insuring clause of an individual health policy:

States the insurer's basic promise to pay for covered losses

The insuring clause sets out the insurer's basic agreement to provide the benefits described in the policy.

2. The consideration clause in an insurance contract identifies:

The premium payment and the statements that form the basis of the contract

The consideration clause describes what each party gives, namely the applicant's premium and statements and the insurer's promise.

3. A health policy classified as noncancelable means the insurer:

Cannot cancel or raise the premium before a stated age as long as premiums are paid

A noncancelable policy guarantees both renewal and a fixed premium to a stated age as long as premiums are paid, the most favorable renewal provision for the insured.

4. A health policy that is cancelable allows the insurer to:

Terminate the policy with the proper notice the contract requires

A cancelable policy lets the insurer terminate coverage with required notice, returning any unearned premium.