Channel Button

There are 5 articles on this title. You are reading the article ranked and rated #5 by Helium's members.

Personal Finance   >

Life Insurance

Get a Widget for this title

Consequences of lying on your life insurance application

Life insurance is taken by many people so as to cover many risks and eventualities that may occur in life at any time.The information and details,which are collected by the insurance provider,should be accurate.Being honest and truthful in providing details about yourself,your current medical condtitions etc offer you more protection and coverage of risks than if wrong or dishonest data had been provided.

Discovery by the insurance company that wrong or untruthful data had been given in the application may lead to the policy being treated as"null and void" and canceled.

Most insurance companies go for physicals and medical check ups and tests before they determine the premiums,areas of risk coverage,duration of the policy etc.Regulations exist which mandate that the data concerning all applicants is transferred to the central database ( Medical Information Bureau).This is o ensure that applicants do not give different details to different insurance companies and try to obtains benefits against risks.

Social security numbers,driving license details,medical and dental records,birth certificates,hospital and school records are all available on enquiry to the insurance providers.Hence intentional lying or concealment will not help any applicant for life insurance.

Honesty is the best policy,as always.

Learn more about this author, Madhusoodanan.K.P..
Contact this writer Click here to send this author comments or questions.


Below are the top articles rated and ranked by Helium members on:

Consequences of lying on your life insurance application

  • 1 of 5

    by W. Lane Startin

    Simply put, if you lie on your life insurance application it will certainly be uprated (i.e. come back more expensive than

    read more

  • 2 of 5

    by Darrell Victor

    One of the fundamental principles of any kind of insurance contract is utmost good faith. This means that each party has

    read more

  • 3 of 5

    by Dambrath

    Many people every year are caught lying on their life insurance agreements, seemingly because they think that they can fool

    read more

  • 4 of 5

    by Daniel Xiao Wang

    The desire for the cheapest life insurance possible is understandable, but lying to achieve a cheap life insurance quote

    read more

  • 5 of 5

    by Madhusoodanan.K.P.

    Life insurance is taken by many people so as to cover many risks and eventualities that may occur in life at any time.The

    read more

Add your voice

Know something about Consequences of lying on your life insurance application?
We want to hear your view. Write_penWrite now!

133415

Featured Partner

Enclave

Enclave is a church in Turlock, California that is exploring what it means to follow Jesus in a rapidly changing cult...more

What is Helium? | Buy Web Content | Contact Us | Privacy | User agreement | DMCA | User Tools | Help | Community | Helium’s Official Blog | Link to Helium

Helium, Inc.
200 Brickstone Square Andover, MA 01810 USA