An affordable life insurance policy is easy to find, so there, AOS not need to lie on your application . Because of term life insurance rates are near historic lows, almost everyone can find a long term life policy that suits their individual needs at a price that won, AOT breaking the bank. If you think that lying on your application is the only way to get cheap life insurance, keep reading.
Because with lies in the life insurance application process, you can end up hurting the ones you love the most, leaving them financially unprotected when you die. life insurance companies have the right to examine all the personal information you provide on your application for life insurance, especially if they believe something to be false or exaggerated. After discovering a lie on an application for life insurance, the carrier can and will cancel the policy. To prevent this happening, it, AOS significant to understand your rights when applying for coverage of life insurance.
First, know the difference between a warranty and representation. A guarantee is something you know to be true, for example, a pre-existing condition that you, Aore know and deal with on a regular basis, such as heart disease or diabetes. A representation (or misrepresentation) is something you believe to be true, but aren, AOT 100 percent sure. For example, you think you may have diabetes, but you haven, AOT was officially diagnosed, so you say that you, Aore perfectly healthy on your application. Lying about a guarantee leaves you at risk of being uninsured, which means a carrier may cancel your contract. A carrier may terminate your contract if you lie to representation, but the consequences vary according to the best life insurance companies, especially if you, Aore diagnosed with a condition after submitting your request.
In any case, it, AOS best not to lie on a health factor or lifestyle because the life insurance carrier will eventually find out. They have access to your medical records and are allowed two years to catch a condition that you have not reported initially. How does this affect your family? If you were to die because of a condition that you lied about your application for life insurance, the carrier cancels the policy and to refuse payment of the death benefit, leaving your family unprotected. The moral of the story is, gift, AOT are on your insurance application life! You can find a low cost life insurance, without risking your financial future family, AOS by contacting a life insurance agent licensed in a multi carrier brokerage firm. They may compare life insurance rates to get you the best value in life insurance based on your individual lifestyle.
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