My mother purchased a life insurance policy for me several years ago and filling out the application checked non-smoking – which was true at the time, but now I do smoke. Does this void the policy? Should I just cash it in?
Is A Life Insurance Policy Void If The Application Was Completed Incorrectly?
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNIt really depends on what is meant by "completed incorrectly". Mistakes happen some times at point of application as long as they are corrected prior to issue those are usually fine. You would sign an amendment upon delivery and policy would be placed in force. If you mean "incorrectly" meaning falsely or malicious that can certainly void a policy. If proven it could be an even bigger issue as you will sign a statement that is true and correct to the best of your knowledge. That is considered insurance fraud.Answered on October 28, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is an interesting question! If you were asking about something simple, like spelling errors or unchecked boxes, in most cases, probably not. But when it comes to matters of incorrectly completing them with the intent to defraud or mislead ( on either your, or the agent's part) then yes, not only will it lead to the policy being voided, but often to civil and criminal charges. Insurance fraud is a bad deal. Now, since you explained that the policy was correctly filled out at its' time of issuance, this becomes more a question of your integrity. You've started doing something that would have changed the terms of the policy , so do you stop doing that, or have your policy amended to reflect your decision to smoke? The risk to yourself, and now the insurance company has just increased dramatically. What you do to yourself is one thing, but to make someone else bear that risk unknowingly is another. Do you think they will be quick to pay if they learn that you pass from a smoking related disease developed over time, and that your policy said "non-smoking"? You have a decision to make, and I hope that it is the right one. Thanks for asking!Answered on November 3, 2014flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.No, your life insurance policy is not void. You said you did not smoke at the time your mother filled out the application, so checking the nonsmoking box was correct at that time. No one can foresee the future, and life insurance companies do not expect you to anticipate whether or not you will start smoking several years later, any more than they expect you to predict if you will get a serious illness or marry someone who wants you to scuba dive with them. Don't cash it in. It is fine.Answered on November 3, 2014flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaAnswers on an insurance application are “representations.” It means that the answers given were true to the best of your knowledge at the time the question was asked. If during the underwriting process someone discovered a birth certificate that showed that they were actually a different age that could become a part of the policy as an amendment.Answered on November 7, 2014flag this answer
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