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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 don't believe so, as your answers were truthful when at that time.
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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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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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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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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 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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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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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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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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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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