New Life Ins Policy

[riceAroni]

My friend signed and received his new policy, after having reviewed the questionairre again he realized that about a year ago he had a routine physical and was told he had high cholesterol & blood pressure.

The reason for the high blood pressure was due to ephedrine which he told his physician he was using, and the bad cholesterol was due to his diet, yet he wasn't grossly overweight.

He cleaned up his diet and threw away the ephedrine, w/o any medication he was able to normalize his blood pressure and cholesterol.

But he answered No to the Ins. question when asked if he had ever had high cholesterol/blood pressure... an honest mistake.

The medical examine that the Ins Co. gave him recently resulted in normal readings.

If he died within the 2yrs that the policy was issued, would his family loose out on the claim because he answered NO?

What if he dies 2yrs after the policy was issued?

thx

 

[ALawyer]

This is a tough one. IF he were to die within 2 years of issue, the company would likely contest a claim. He may want to send a letter to the company -- certified mail, return receipt -- explaining the situation and offerig them the choice of reunderwriting him -- or hope he makes it another year, OR apply to a NEW company for a new policy and make full disclosure.