Term insurance wrong details captured in medical questionnaire
2 years ago
I purchased a term insurance policy in July 2018. I did not go into the details then as i had already disclosed all the true details in good faith to the insurance exec and the doctor. When i went through the policy documents recently, i found some discrepancies in the medical examination questionnaire. My smoking, alchohol, father's diabetic history, my minor surgery etc were capture correctly by the insurance agent as mentioned on page 21 of the policy kit. However, the doctor simply ticked No for all on page 28 of the policy kit despite of telling the same true details to him as well. The policy was lapsed and renewed by my mistake of just 1 day delay in premium payment after grace period in Aug 2020. The policy was revived on 20.08.2020.
As i had shared all the details correctly and also captured on some pages of the policy kit, the insurer was already aware of the material facts at the time of policy issuance.
Will the claim be settled after my unfortunate death / disability now.
You have to bring this to their attention. It is difficult to claim the insurance in case of any such errors and the company will try its level best not to approve the claim. Please contact them and for legal advice, please contact a lawyer.
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Do not believe the false promises of the executive then nothing will happen and he/she will take care when needed.
If they donot make the changes then stop the premium and start a fresh Term Insurance.