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Re: [IP] Insurance

In a message dated 5/19/99 2:54:24 AM Central Daylight Time, 
email @ redacted writes:

<< Life insurance is easy you check all the boxes no I do not have that as 
 as you live beyond 2 years the policy remains intacted.If you put any 
 they will deny the policy and blackball you with all the rest of the  
 companies. >>


I just got off the phone with the chief underwriter of our company to check 
this out...

This depends upon the state.  Some states cannot do anything after the two 
year contestibility period has expired.  Others can cancel your policy and 
refund your premiums, others can keep all the premiums you paid.  

What you have suggested is highly unethical and is downright illegal in some 
states.  Even if you are in a state that cannot investigate after a 2 year 
period, if you die 23 months after you get the policy, nothing will get paid, 
you lose the money you paid for premiums.

If you indicate that you have diabetes on an application, you will most 
likely not be blackballed, depending upon the length of time you have been 
diabetic and your control, you will be assigned a rating and will have to pay 
higher premiums but you will be able to get insurance.  If you lie on an 
application and get caught, you can forget about ever getting another 
insurance policy, at any rate, with any company.  By the way, there is a 
national database for fraudulent and suspected fraudulent practices.  They 
are getting really tough about this.

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