Saving You Money For Life

EVERYTHING! The last thing anyone wants for their family, after their death, to be told that the life insurance policy they THOUGHT they had is being contested for lack of disclosure. Why give an insurance company a reason NOT to pay your family?

One of the most common examples of this is the failure to disclose tobacco use. Tobacco use at many life insurance companies can cause your rate to be triple that of a preferred non-tobacco user. So, uninformed people figure that if they lie about their tobacco use, that they can get the lower rate. First of all, it’s not that easy. Most carriers will examine your medical records and most doctors have notes in their files regarding their patients’ tobacco use. Second, in order to qualify for life insurance, you must typically submit to a paramedical exam, which includes the drawing of blood and collecting of urine specimens. These fluids are tested for chemicals that would indicate the use of tobacco of any kind.

More after the jump…

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