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Author: NoIDAtAll Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 17955  
Subject: Re: smoker risk Date: 2/11/2013 9:22 AM
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What are the risks at this point? As i understand it, past 2 yrs the policy cannot be canceled.

How about, if the life ins company finds out can they charge with fraud
anyway, to teach the guy a lesson, even if they have to pay on the policy?

Other risks

A policy can always be rescinded for material misrepresentation or fraud. If a claim ensues, it is more likely to be tried in court.

(On a, pretty irrelevant, side note, 2 of one of my auto insureds' brothers were once found stripping their sister's insured vehicle in a remote field. The insurer refused to drop the claim at the insured's request, paid the claim and prosecuted her brothers.)

The common 2-year contestable period in life insurance contracts most commonly applies to suicide, but can also be applied to age and sex misstatements.

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