Life insurance

[Scars1]

Life insurance is up for renewal soon, do i tell them about the copd and does anyone know if it would effect being able to get it?.

[raptor]

Tricky one that,,dig out your policy and have a look at all the clauses.It should say something in there,, i would recomend telling them by letter or e/mail just in case..

[Hidden]

I think you are probably obliged to tell them about any changes in your health. Don't have life insurance myself so this is just a thought.

Marie

[cofdrop-UK]

I would think you would have to tell them, otherwise you policy may be invalid if it came to paying out.

cx

[Pepsicoley]

Hello Scars

You must tell the insurance company. If you don't tell them it will invalidate your insurance so you would be paying premiums for nothing. You MUST tell your insurance company - it may result in increased premiums but it is better than paying out and receiving nothing in the end.

Annec

xxxxx

[phillips1]

Hi Scars

I was going to put exactly what Pepsicoley put but she beat me to it. I think she read my mind. I'm sure she is a witch. Anyway, seriously, it is essential to tell the insurance company. Bob

[Scars1]

thanks guys, you pretty much confirmed my thoughts.

[Bumley]

Hi Scars,

Normally I would respond no, you don't have to tell them of any health changes for Life Assurance. But you mentioned that you about to pay a renewal and this suggests that it is not a life assurance policy but perhaps an accident type policy.

Technically, a life assurance policy is one that last for a certain number of years 10, 20, 25 years and then matures unless you die earlier. The other type of life assurance is whole of life which is paid throughout your life until you die when it is paid out. These policies have a medical questionnaire at the beginning and once you are accepted you need not tell them of any changes, but you must tell them if you have any problems when you take them out.

Since you mentioned that there is a "renewal" it could be an sickness and accident type and with this type you will need to tell them when the policy is renewed.

If you want to be really sure tell them of your health changes before the renewal and they will soon tell you what terms they will offer.

Hope this helps, I used to sell the stuff.

David