Telling total truth to insurance co?
My hubby is getting life insurance however to obtain best prices I dont know if i should tell everything,for instance they ask on application if he EVER smoked he did for similar to 10 years 15 years ago,But if I say yes he will be classified have a smoker and I know after a few years of quitting its like never smoking at adjectives.How would they know anyways if god forbid something happened to hubby while covered.
Answers:
Actually, you can describe the truth on that one. Insurance companies want to know if you have stopped smoking. They will be leery of you if you own quit within the ultimate two years, but your husband should not have any issue contained by getting nonsmokers rates.
It is very unsafe to lie on an application. You might take away with it initially, but if your husband dies and the insurance company investigates and finds misrepresentations on hte application they can negated the policy and not pay the beath benefit.
Also, if they corner you in a story during underwriting, they might decline the application when otherwise possibly issuing it. For example, if you voice you haven't been treated for something when you truly have, and they find out (through the Medical Information Bureau or contacting your doctor) they will decline your application; even if the condition be minor and wouldn't cause a decline on its own. The insurance company (rightly) believes if you lied once afterwards everything on the application is suspect.
Other Answers:
They'll never know if he was a smoker or not. Most relatives are honest to a fault. You hold to go next to your conscience on this one.
My husband is a dork and told the whole truth. They will never know, its not close to they are going to give you a not tell the truth detector.
It is always better to make clear to them the whole truth. Or when the time comes for the transmittal they will catch you near the help of the fleet of lawers and the invesigators at their disposal and you will be see fighting a losing lonely engagement.
If they dont require a pre-acceptance physical including chest xrays, and he has no treatment for respiratory problems near xrays on file. Smoking is really no longer an issue, except an excuse for them to push a highly developed rate on you.
He will not be classified as a smoker. It really depends on the company as far as how far they look back. While he should attain non-smoker rates they may or may not let him get hold of the highest ratings assuming his strength is otherwise great. Honesty is always the best policy. Especially beside insurance. You could run into problems if you dont disclose all information.
Source(s):
I work for voluminous life insurance company.
Always, other, always inform the truth to your insurance company. (No I don't work for one)
The whole point that you get insurance is to protect yourself from any sort of catastrophic loss (in this crust, loss of life). The insurance company is entirely within its rights to deny payoff if they learn that you lied on your application form.
Even if you construe that there is no path that they can find out, you would be surprised how many enemy and busibodies that can come out of the woodwork if they decide that they can inflict overexploit on you.
It just isn't worth it - don't even construe about it.
Lying on an application is not something you should consider. This is insurance fraud and is punishible by fines and prison within most instances.Also if there be a claim and it was found you be untruthful then it could be denied afterwards it would not matter that you remunerated less surrounded by premium because you wont have received the benefit you be paying for. Old doctors records or work documentation could indicate your husband as a prior smoker so it is not likely the lie back would go undiscovered.