Assuming you mean drop you after your policy was issued and in force, the answer is no. But if during the two year contestability period, material misstatements or omissions were discovered, a life insurance company would more than likely return your premiums with interest and invalidate the policy.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Can life insurance companies drop you? In the first two years, during the contestability period of a new policy, yes they can if they find a material misstatement on the application. Actually in some states, for certain issues the state can waive the two year limitation and extend the clause for the life of the policy. In my state, it would be misstating about smoking.
Many people worry that their life insurance policies will drop them if they develop a health condition, as can happen with health insurance. The fact is, if you filled out your life insurance application honestly, complied with whatever they asked you to do, and got a policy, that policy is yours to keep. You can have a heart attack the next month and it will pay the death benefit. You can start smoking the next year and it will pay the death benefit. You cannot be dropped over something you did not know ahead of time.
Given that type of guarantee, why not lock your life insurance policy in for as long as you can. If you can get coverage for 30 years or a lifetime instead of 10, have a need for longer coverage, and can afford it, no one can take it away from you as long you keep paying the premiums.
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Given that type of guarantee, why not lock your life insurance policy in for as long as you can. If you can get coverage for 30 years or a lifetime instead of 10, have a need for longer coverage, and can afford it, no one can take it away from you as long you keep paying the premiums.