When you complete the application for your life insurance policy and you omit an important fact, your policy can become void if the mistake is caught in the contestable period of the policy. Health factors that may have led to the denial of a policy or caused a severe raise in the cost would have [...]
Archive for the ‘Life Insurance Mistakes & Errors’ Category.
Absolutely not. Your life insurance company cannot void your policy if you move, regardless of whether you move out of state or not. There are certain requirements on life insurance policies. The policy must conform to the laws of the state that it was issued in, and even more so than that, it must conform [...]
No, your policy should not be voided if you misstate your age on accident. What should happen is that your company should adjust the death proceeds when you die to what the actual value of the benefits would have been at the proper age. There should be no other affect on your policy.
Sometimes basic factual errors are discovered in life insurance policies, such as the incorrect age or sex. These inaccuracies are often not discovered until the time of death. If the inaccuracy would not have led to a denial of coverage, the life insurance company usually adjusts the amount of coverage to agree with the correct [...]
My insurance agent was not able to help me resolve the problem I had with my life insurance, is there anyone else that I could turn to for help? If your insurance agent was not able to help fix a problem you had with your life insurance, you can take further action. The next thing [...]
If I made a mistake on my life insurance application many years ago, can my life insurance deny my claim or claim that my policy is no longer valid? Usually, life insurance companies have a certain amount of time to look over your application and see if there are any mistakes or false information given. [...]