Question

Jeff Meyer is applying for health insurance. He is asked on the application form, “Have you ever had cancer?” and he answers no. Later he discovers that he actually had cancer at the time he filled out the application form. Can the insurance company void his contract?

Answer 1

In this case, Mr Jeff Meyer has not medical check-up at the time of submitting the application form and thereby misleading the insurance company. It is the duty of the Insured to provide the complete and accurate information to the insurance company while taking the insurance.

This is withholding of information knowingly or unknowingly to get lower rates.

Now, at the option of the insurance company, it can pass the claim or deny. It can figure out how much premium you should have been paying based on the new facts.

That would likely happen if you simply made a mistake. Or in an ideal situation, the insurance company can deny the claim.

Yes, the life insurance company can void the contract.