Can Life Insurance Drop You?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaDuring the first two year contestability period after the policy has been issued, the life insurance company has the right to investigate your application for misstatements, misrepresentations and material omissions that could constitute fraud. A major area of misrepresentation is smoking status. Some life insurance carriers discovering the misrepresentation will summarily reduce the death benefit at the smoker rate or deny the claim altogether.Answered on June 16, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.When you do all that was asked of you and did not lie or omit something important during the life insurance application process, the policy you get is yours to keep. The life insurance company cannot drop you because you get cancer, break your back, or start smoking. They will not even adjust your rates for those things. The policy you legally got is legally yours until it ends (as in Term insurance), or until you drop it by not keeping up required premium payments.Answered on June 17, 2013flag this answer
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