The answer is quite simple. If you lie on your life insurance application, chances are that the company will find out and cancel your policy. This means you’ll need to go through the process of getting a new one which can be time-consuming and costly.
If you’re looking for more information about what happens if you lie on a life insurance application, check out this guide!
what happens if you lie on a life insurance application
If an applicant offers false information on a policy application, the application may be denied, the policy may be canceled immediately with no warning, and the beneficiary of the applicant’s death benefit might be refused.
The insurance company will investigate the claim. If the policyholder presented false information on their insurance application or there are suspicious circumstances surrounding their death, they may reduce or reject the payment to the beneficiary.
Instead of Lying, Do This Instead
Avoid getting a hard decline for coverage from a life insurance company. You won’t be able to apply with anyone else for at least two years. Try applying for a solid life insurance company that offers a soft decline that shouldn’t hurt you from applying at other companies.
Or contact us to personally shop coverage for you.
Need Help Getting Life Insurance Coverage?
If you have a preexisting medical condition and want to buy life insurance, you will need help from an expert. This person can help make sure that you get coverage so that you don’t get declined.
Warning: Applying for life insurance without a medical exam can be risky. If you are declined coverage, it could be at least two years before you are able to get any life insurance.