Invalidating life insurance wow online dating

Posted by / 29-Jun-2016 16:19

Invalidating life insurance

When you fill out your insurance application, you will be asked about your tobacco use within a certain period of time prior to the application, commonly 6 to 12 months.Any level of nicotine use during that time period will classify you as a tobacco user for life insurance purposes.It’s a well-known truth that smokers pay higher life insurance rates.The health risks of smoking have been well documented and insurance companies protect themselves from this higher risk by increasing rates for tobacco users.There are many levels of tobacco use, from the occasional cigar smoker to the heavy cigarette smoker.

If you were a non-smoker at the time of your application, you will be issued a regular non-tobacco user policy.If the insurance company discovers that you misrepresented anything on your application, including smoking, they can deny the claim or adjust it to allow for the premiums you should have been paying as a smoker.Failure to disclose your smoking habits to your insurance company when you apply for a life insurance policy constitutes fraud, and could result in your policy being cancelled or a claim being denied.But what happens when you start after you have already taken out a policy?Most insurance companies have a time period, called the contestability period, during which your life insurance benefits can be questioned.

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If you die during that time period, there will be an investigation into the circumstances.

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