What Can Void Your Life Insurance?

Although we are required to fill out forms correctly with all necessary information when purchasing a life insurance, what happens if you leave out some details? Another probable question is if future health decisions can void your life insurance. While this may seem strange to some people, there are many people who fall into this category. You could choose to refuse treatment for an illness that affects your life on the grounds of religion. You could also prefer alternative medicines to mainstream ones, etc.

If you falsify or withhold certain information in your form, I can actually make your policy null and void. There seems to be an exception to this. According to life insurance experts at Greater National Group, in most cases, once the contract is already signed you are still covered by the terms in the contract. Life insurance policies will still cover you if you refuse to take treatment or refuse a certain kind of surgery. The policy can only be void if it was discovered before the policy is written.

For this reason, many insurance companies often include a two-year contestable period. During this time, the company has the legal right to rescind on your policy if there is proof that you misinformed or falsified information on the contract. Anything beyond this period, your claim will be paid to you nonetheless.