by auntiemme » Fri Aug 14, 2009 02:01 am
Say I obtain life insurance today- no prior medical history- never hospitalized. No health problems. But I go to the Dr next week and find out I have cancer. Can the insurance company cancel my policy?
Posted: Fri Aug 14, 2009 11:34 am Post Subject:
I don't think the insurance company would cancel your policy immediately. But I'm not too sure how your premiums would be affected. Again, if it's a term life policy then you could face a challenge during renewal.
Posted: Sat Aug 15, 2009 11:04 am Post Subject: insurance
I know you JUST started a policy. But..you may let your Insurance Company know NOW what you found out. I'm saying this because, when it comes time to re-new, they (Insurance Co) may come back and say "you knew for a long time and didn't tell us?" I hope you're understanding my point. I think THIS way, you're 'covering' yourself.
Posted: Mon Aug 17, 2009 11:21 am Post Subject:
Check the "right to cancel" (or similar such wording) in your policy, see if there is anything in there that would apply.
I TOTALLY disagree with SD chargers advise. If you truely had NO knowledge of ANY condition when you filled out the application, and in NO way misrepresented your health in the application. You are under no obligation to let your life insurance company know you're sick. A cancer diagnosis doesn't mean death. And that's the only thing they need to know about, (meaning filing a claim)...I will caution you though, if you in ANYWAY misrepresented yourself on that app. then you are running a huge risk for your family.
Posted: Mon Aug 17, 2009 11:28 am Post Subject: insurance
Isn't honesty the best policy? I mean, if you know something NOW, then shouldn't you let them know? If you wait to tell them and try to get ANOTHER policy somewhere else OR re-new this one, the odds may be aqainst you at that time. I'm jst giving my opionion, of course. It's certainly the OP's decision (and, of course the Experts, on the Forum, know more than I do..LOL).[/u]
Posted: Mon Aug 17, 2009 11:40 am Post Subject:
Isn't honesty the best policy?
Of course it is...and the OP was honest when completing the application for insurance. That is the only time he was (or will be) asked about his/her health..I mean, if you know something NOW, then shouldn't you let them know?
No, why would you on a life policy? Do you think that when you purchase a life policy you are required to (or anyone would) call your life carrier if you get sick? No, you're not...the only possible thing that could happen would be bad for the OP. Now don't get me wrong, if his policy requires him to contact the carrier within the first (let's say) 60days of the policys inception if his state of health changes then of course he'd better. Although I've never heard of such a thing.If you wait to tell them and try to get ANOTHER policy somewhere else OR re-new this one, the odds may be aqainst you at that time.
First of all they can't non-renew him/her if he pays the premiums and is upholding all the terms of the contract. And he damn well better, because the chances of him getting another life policy now that he IS diagnosed with cancer are slim to none. If he were to complete an application for insurance today he would have to truthful answer the heath question, which would mean disclosing his condition. And he would most likely be denied the policy.I'm jst giving my opionion, of course
I understand, but if there is a 'free out' for the carrier within the first sixty days or so, but no obligation for him to disclose this information, he would be an idiot, since the would most certainly be canceled, and unable to purchase another policy very easily.Posted: Mon Aug 17, 2009 12:24 pm Post Subject:
Don't tell the insurance company anything. It's none of their business. Once you are covered, you are covered...assuming that you answered the questions honestly.
There also isn't any reason to tell them because they can't do anything about it.
P.S. My guess is that if you are about to get diagnosed with cancer either you had an idea that something wasn't quite right and this is something that possibly should have been disclosed. Another possibility is that something would turn up in the blood work for the insurance application.
Posted: Tue Aug 18, 2009 01:26 am Post Subject: life insurance
I see your points, LORI and INSURANCEEXPERT. It DOES make sense. Why put yourself in 'jeapordy'?..I think that's what you mean, anyway. If the OP HONESTLY didn't know something was wrong, when starting the policy, I suppose I wouldn't worry about it, either.
Posted: Tue Aug 18, 2009 10:44 am Post Subject:
If the OP HONESTLY didn't know something was wrong, when starting the policy, I suppose I wouldn't worry about it, either.
EXACTLY, the questions on the life application don't say, ''You feeling ok? You have ANY reason to believe you might be sick?" They ask specfic questions...and if the OP answered those correctly and honestly he did his part.Add your comment