Everyone Lies On Their Life Insurance Application

Lying on Life Insurance Applications is NEVER a Good Policy.Telling the truth is not just a virtue, it is the law when it comes to life insurance. The temptation to lie on your life insurance application in order to save a few dollars will cost you more in the long run, possibly even a policy cancellation. If the insurance carrier finds out that you failed to disclose important health, lifestyle or criminal information it is called non-disclosure and it is cause for the company to terminate or invalidate that policy. Full disclosure is a fundamental principle of entering into an insurance contract. That contract can be nullified if you provide false information.

The most common problems occur with health or lifestyle questions. For instance, you smoke the occasional cigarette but don’t consider yourself a smoker. Well, the medical exam that the insurance company requires you to take might detect the nicotine in your system and raise a red flag. It’s better to be honest. Some carriers are more flexible than others when it comes to tobacco use.

That same insurance physical, which includes lab work, will reveal elevated cholesterol levels, diabetes, and hypertension to name some of the most common ailments. Hiding these conditions from insurance companies is almost impossible. They employ experts in their underwriting departments trained to investigate your background. They will request your medical records from your physician(s). They will look into your lifestyle habits—such as whether you have risky hobbies such as skydiving or if you are a private pilot—and they will even look at your driving record.

Even if it turns out to be an insignificant oversight on your part, such as forgetting to mention a recommended diagnostic test that you failed to take, it could show up in your doctor’s medical notes and the insurance underwriter might wonder why. Misleading an insurance company about these things could create suspicion as to what else you might have failed to disclose. Ultimately, any of these oversights can be corrected with your carrier’s underwriters. But lack of full disclosure of any serious health condition could cause the carrier to reject you or could someday nullify and void your death benefit claim to your beneficiaries.

Purchasing life insurance is a form of protection for your family in the event that something happens to you. But the insurance companies have a right to know the kind of financial risk they are taking in insuring your life. When you choose to give false information you run the risk of not being insured. It is always a good policy to be truthful. By not being honest you risk hurting the ones you want to protect the most.

Check out the pages below for more information on choosing the right company and how to secure the best rate:

• The facts about life insurance rates
• Selecting a company
• Life insurance company ratings
• Getting the best rate
• Use the life quote engine

With all of the plan options you have, figuring out which policy is best for you and your family can be overwhelming.

LifeQuote offers several features to help make the process of finding the right life insurance as simple and painless as possible. From live chat to an easy-to-use calculator that helps you figure out how much insurance you need and for how long, we have a user-friendly tool to help you every step of the way.

Visit our FAQs about Life Insurance section to get more answers to Frequently-Asked-Questions.

To compare quotes, simply click get a quote and you will be taken to a page that asks you to complete a form. If you’re unsure of how much coverage you need, or how long the term should be, start a chat to connect with one of our knowledgeable representatives immediately. You can also send us an email or call our licensed agents at 1-800-521-7873.