What happens if a life insurance company finds out a policyholder withheld information on the application?
It’s essential to provide complete and accurate information on your application. If significant information isn’t disclosed, the insurance company could change your premium or deny benefits. For example, providing an incorrect date of birth could lead to a policy readjustment, which may mean less coverage for your family. Falsifying information or omitting serious illness could lead to a voided policy. If that happens, your loved ones would only be refunded the premiums paid prior to your death.
