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A month ago I purchased a lilfe insurance policy for my dad, I truthfuly answered the health questions asked. Today I had a meeting with the Doctor and I was informed my my dad has several conditions that are life treatening and that he will have to stay at the convalecent home, long term care. I responded no to the questions asked in the life insurance form as I was not aware of the severe conditions of my dad. Should I call and report this or what can I do?

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I understand, Josie - of course it is important to make sure that their sending off is as they would wish. I hope you've been offered a good value plan - reputable provider, and so on?
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To: Countrymouse. When my uncles' passedaway they had no life insurance and no money saved because they were using their money to pay the convalesent home. So, yes we the family had to come up with funeral expenses and plot expenses and other...so this is why I got the idea to make sure my Dad had funeral expenses money so that this will not be a burden to me when is his time to pass. I hope I am making myself clear and not have anyone belief that I am trying to get any money for free, I am paying for this policy myself and the amount of the policy is just enought for a decent burial without having to go into cremation. Again, Thanks, and God bless.
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But Josie, did your uncles' not having life insurance actually create any financial problem? I'm very sorry to hear of your family's loss, though, how sad for all of you.

A person needs life insurance if he or she has economic dependants - spouse, children, elderly parents, for example - or outstanding financial commitments such as a mortgage. Otherwise, what's the insurance for? It was never intended to be, and it cannot be, compensation for the loss of a loved one; it is designed solely to protect those left behind from financial hardship. I hope you haven't been mis-sold a policy.
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Thank you all for your answers. As I stated before, I was not aware of my Dads real conditions. I got the policy because I have lost three uncles within this past year and none had life insurance so I thought it was time to buy one for Dad. Agains, thanks, and God bless.
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You owe truthful disclosure at the time you enter into the contract. You met that. You can read the policy but there is no reason that you would have to disclose new info.
Make sure you pay those premiums. BTW, life ins companies get the records of the meds you have taken that have gone through insurance, so they know of conditions that are under treatment, IF, he had been under treatment for something serious and not disclosed, he would likely have been denied.
Insurance companies have countless actuarians trying to make sure the are on the positive side of policies, once in a while a policy is not as profitable or is a loss.

My best to your father and to you. Sorry to hear of the troubling diagnosis.
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The red flag here is that the policy was issued without any kind of physical. Sounds like an insurance scam to me. Read the policy very carefully.
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Just because you were unaware of the life threatening conditions of your father, does not preclude you from fully informing the insurance company of his condition now. Disclosure is required when you know something vital the other party to a contract must be aware of, and not disclosing it would render your policy invalid should you be named beneficiary. Better to err on the truthful side than to be dishonest and have the insurance company bite you in the a** when he dies without any payment forthcoming. Hope he is doing better!
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...forgot to add:
Check with your local Area Agency on Aging.
They regularly have legal volunteers who you can consult with for a free 1/2 hr.
Make an appointment to talk with one of them; it may result in needing to talk with others, as well, but maybe that can resolve the question.
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teenier sounds about spot-on.

IF an insurance company learns, -after he dies-, that the health conditions were "formally diagnosed BEFORE the policy was purchased", it could be seen as some level of fraud---maybe also depending on what type of life insurance.

For instance, some small policies are specifically for burial expenses
--the insurance companies are betting the person buys and pays into the policy long enough so the company can make some money off it, before the person dies.
Yet, even those, if bought when the person is, say, already signed up for hospice, could be seen as fraud, because the person or family waited until the last days before death, to buy that policy.

Insurers want to make money--lots of it. It's very lucrative.
They take great pains to make sure that many more people pay premiums, than the costs of claims settled. That keeps investors happy: income exceeds payouts. Anything that screws with that, is likely to trigger their systems to start legal processes to prevent payout on claims that failed to pay enuf into the system before claimed.

A family member's word that they "didn't know Dad was so sick until after the policy was written" will be very hard to prove to them.
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your responsibility was at the time to answer the questions about your dad's health truthfully, which you did. You have no reason to amend the application now.
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I can see why you might feel uncomfortable, with your father's new diagnosis coming so soon after you had taken out the policy, but if the fact is you answered the questions truthfully at the time when you were asked them and you could not have known any differently then you haven't done anything wrong. Keep a careful record of what you were told and when in case the question arises later; but there shouldn't be a problem.

Just out of nosiness, why were you buying life insurance for your father?
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You cannot add health conditions to a policy. The answers above are all very good. I am an agent so I advise..as stated above, read the entire policy very carefully, and also re-read the application and your answers very carefully. There may have been a catch-all question such as, "are there any symptoms or health issues not already included in your answers, " or some such catchall question..at the end of the questionnaire. If you answered truthfully and he was not having symptoms, then you should be fine. You might ask another agent to review the policy and application and be honest about your concerns. Agents know what to look for and have an eye for detail. Everything you need to know is in the policy and the application. There can be no stipulations outside of the policy and the application.
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I have never seen a policy that says you must notify them if something changes. As Matt said, check the language on your father's policy. One thing to look out for: it is possible that the language is "Were you (the applicant) diagnosed with…?" They do not ask if the family is aware. If your father has been diagnosed with any of the conditions in the past, even if you do not know about it, it could be grounds to not honor the policy. There are many databases available now, where insurance companies can find out if someone has had a certain treatment or medication. If you find out that he had been diagnosed in the past with something that you believe to be serious, I would still not officially notify anyone. I would contact the company or your agent, and ask hypothetically - or act as though you are shopping for a new policy for someone - what impact this condition would have on the policy. If they tell you it will nullify the policy then it is probably not worth it for you to continue with the premiums, and in fact to see if you can get a refund. If they say it is okay, then you just keep the policy. The insurance company is going to review the case carefully. The best situation is if you have an agent you can ask. They do not look good if they write a lot of policies that get denied, so even if they give up a commission, they will likely give you a good answer.
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Was there an exam? What type of Life ins policy was it?
In some cases you may be OK some not. Most policies have a two year indemnity policy, meaning that after two years even if something was not on the policy, it's now considered a non factor (except incorrect age). Some policies that you see on TV and say you will not be turned down, no exams, no questions, have a two year claim restriction...meaning that if the insured dies in the first two years they don't pay..even though you have paid the premiums. read the fine print on the policy. Trust me..some companies will do anything not to pay.

As Bishop Sheen said " The large print giveth, the fine print taketh away"
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Check the policy, but my understanding is if the medical doctor just told you this and it would be in your Dad's medical chart (with the date and changed diagnosis), it sounds like you are in the clear. If the diagnosis changed after the policy then you should be fine. I think it would become sticky if you purchased the policy and he already had the diagnosis. Here I would check the policy and check with the legal aid society or some organization for the aging.
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I don't believe so, as your answers were truthful when at that time.
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