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"Crap, so I shouldn't have told them I sold insurance on my application?"
They don't ask how often....
They don't ask how often....
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Well fibbing about smoking is as old as life itself. The thing is in the old days, agents didn't worry too much because there would still be a death benefit, albeit a smaller one, but there would be payment.
When the OIC made this change, things changed. Now, just a refund of premiums. The agent if they have any doubt, needs to express what this clause means and who enforces it.
I tend to mention it in passing as just a conversation piece with everybody. Explaining what used to happen with what happens now.
If you app contains a page with state listed in bold letters and words after them, it would be wise to read them.
Well fibbing about smoking is as old as life itself. The thing is in the old days, agents didn't worry too much because there would still be a death benefit, albeit a smaller one, but there would be payment.
When the OIC made this change, things changed. Now, just a refund of premiums. The agent if they have any doubt, needs to express what this clause means and who enforces it.
cgo
I tend to mention it in passing as just a conversation piece with everybody. Explaining what used to happen with what happens now.
If you app contains a page with state listed in bold letters and words after them, it would be wise to read them.
I checked several company"s apps today. While a few had a fraud notice...which read basically any intention to defraud...would be based on that states laws. Did not mention my state (NC) in particular. Would be good to clarify if it is in my state.
So basically a former smoker purchase a life insurance policy at a non-smokers rate. They have started smoking again and want to know if they die of lung cancer or any other smoking-related illness that the policy will still pay out. Can anyone provide any insight to situation like this?
Every insurance company will be move in there act. Smoking insurance policy is part of life insurance which they are provide many opportunity but you should follow there act.