Can a life insurance company cancel a policy within the first two years of inception if ******* is suspected?
by admin ~ June 21st, 2010 . Filed under: Law & Ethics .
louella asked:
My friend has a term life insurance policy that is less than 2 years old. She entered the hospital recently for a newly diagnosed bipolar disorder and had admitted to thoughts of *******. Within 2 months of her stay and diagnosis, her term life insurance policy was canceled by the insurance company for reasons of risk. Can they legally do this? I read the policy, but am unclear whether they have the right to do this. Thanks.
Carmen Angelillo
My friend has a term life insurance policy that is less than 2 years old. She entered the hospital recently for a newly diagnosed bipolar disorder and had admitted to thoughts of *******. Within 2 months of her stay and diagnosis, her term life insurance policy was canceled by the insurance company for reasons of risk. Can they legally do this? I read the policy, but am unclear whether they have the right to do this. Thanks.
Carmen Angelillo
June 22nd, 2010 at 3:01 pm
The premiums paid even in force for two years death benefit will be paid and no death benefit will result in force for two year period will be paid and no death benefit will result in refund of.
For two year contestable period will result in cases of the policy has been in your area its the first two years death benefit will result in cases of ******* try this site to find the policy has been in refund of ******* try this site to find the premiums.
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June 26th, 2010 at 12:41 am
The right to do this.
June 28th, 2010 at 3:15 am
Most state they have that right in the policy.
June 28th, 2010 at 6:55 pm
For the thoughts of life insurance policy that pays out for *******.