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Life & Health Insurance/applying for whole life policy

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QUESTION: Hi there I just applied for a 50 k life policy which will cost me 210 a month I believe. My ques is I just realizrd they asked me on phone if I have been hosp in last 12 mos and I said no. But I realized now I had a inguinal hernia operation on which I was hospitalized for 5 days. Since I forgot to mention this will it be OK? If I would have mentioned was Hosp for hernia operation would that mean generally they won't accept me or is this fine? Pls advise asap ty

ANSWER: Dear Carol,

I believe it would be wise to contact the insurance company. Should they find out that you had what amounted to a material misrepresentation they could cancel the policy. However, if you correct the information prior to issue, I expect that they will issue the policy, possibly with a temporary extra premium. This due to the recent time of the surgery.

Willard R. Brumbaugh, LUTCF
CA License 0374776
(888) 792-2379

---------- FOLLOW-UP ----------

QUESTION: Hi thanks what would I say to ins company re surgery? Do u really think they would find out? Pleasrvreply asap ty

ANSWER: As I indicated before, it is likely that the company would accept you. On the chance that you do not disclose that surgery, and something were to happen in the first two years, at that point an investigation revealing the surgery might void the policy.

Willard R. Brumbaugh, LUTCF

---------- FOLLOW-UP ----------

QUESTION: Thanks if I let u know name of insurance company will u tell me if they will accept me? Also what do I tell insurance company why I forgot to mention about surgery.

Answer
I will be happy to. But I would need more information. Please don't answer me on this site. E-mail me your height, weight and date of birth; plus the date of your hospital stay. If it turns out that their rating is too severe, I'll check around for a better outcome.

Simply say that you were overwhelmed by the process. Getting life insurance is an intense activity.

Willard R. Brumbaugh, LUTCF
CA License 0374776
(888) 792-2379

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Willard R. Brumbaugh, LUTCF, CSFP

Expertise

I can handle questions concerning life insurance, it`s tax implications, how to determine what is appropriate, and how it fits in one`s estate and retirement planning.

Experience

For 2 1/2 years I was an expert on AskMe.com, where for most of that time I was ranked #1. I have been a moderator (instructor) for the Life Underwriters Training Council. I have been licensed since 1969. Organizations I belong to: National Association of Insurance and Financial Advisors - California and the Inland Empire Estate Planning Council. I hold the professional designation of Life Underwriters Training Council Fellow.

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