Do I really have to disclose everything for a life insurance quote??

Question

My wife has a family history of cancer which is causing my life insurance quote to change from £15 a month to £50. Do I really need to disclose this info to the companies, or should I not tell them as they would need permission anyway to check history and doctors records???

Answer 1

Yes you should ,it is certainly advisable as the companies have enough {get out} clauses without  you handing them yet another one.

Answer 2

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Answer 3

Yes otherwise your cover is void, they should only want to know if it relates to her grandparents, parents or brothers and sisters before the ages of 60, if it is over the age of 60 they you don't need to disclose it, just check with their policies otherwise there really is no point in paying for something that is going to be void if you try and claim as you wont get any money back.

Answer 4

The insurance companies are allowed to check your medical records in order to properly price  your coverage.  If you are upfront and honest, your broker can probably have a better chance to provide the best coverage at the most affordable price.  If you are not honest, he/she may place you with a company that will charge your more because they are not equipped to handle your risk.

Answer 5

You don't HAVE to tell them but it would defeat the purpose of having the insurance. If you were to make a claim your medical records would be scrutinised and medical history would come to light.

So...yes...in order for you to have valid insurance you need to disclose both your own and your family medical history.

Answer 6

disclose as much as you can .You may die o a different cause or not disclosed, .With more fraudulent claims the verypurpose of insurance without full disclosure leads to the Insurancwe Co is waiting to disallow the claim

Answer 7

Yes you do because ( god forbid) anything should happen and you make a claim they really do fully investigate previous or family conditions . It is in their interests NOT to pay out and as cynical as it that's the first thing they do . Its a business isn't it.?

I think 50 quid for a joint life insurance cover is pretty good .

My husband pays that just for himself.

With regards to giving them permission you have to do that on application so no policy would be issued if you didn't give that initial consent.

Answer 8

yes you do as if found out, your insurance would be void and you would have paid for nothing.

Answer 9

I am assuming when you say my life insurance you are talking about a joint life police with your wife. Otherwise it would be a bit of a strange question.

xxFJ