Underwriters for Life Insurance in Wichita KS use statistics to determine which applicants to accept and which to deny, since many relevant factors have significant predictive value. A person who smokes, for instance, is statistically at a substantially higher risk of disease and early death. Underwriters realize that some very healthy people who no bad habits to speak of die early for unexpected reasons, but these insurance company workers try to minimize the carrier’s risk that an applicant will meet an untimely demise.
Health and Behavior
An individual who smokes or has other problematic health-related issues must not lie on the application. Companies that offer life insurance in Wichita KS may investigate the person’s medical history before approval, and are even more likely to check into those records if the policyholder dies much earlier than should have been expected. The company also may investigate if the policyholder passes away from a cause often connected with health-compromising habits, such as smoking or chewing tobacco, or drinking excessive amounts of alcohol.
The Driving Record
Even lying about the driving record can come back to haunt the beneficiaries of a life insurance policy if the deceased person was killed in a vehicle accident. A record that includes driving under the influence of alcohol, multiple instances of speeding citations and citations for running red lights can disqualify the policyholder if he or she claimed to have a clean driving record when filling out the application.
Avoiding Pitfalls
Answering questions honestly is imperative for the insurance policy to be valid. Someone who wants to be sure there will not be any technicalities that cause problems after death may want to acquire life insurance through an independent firm like the Andy Woodward Insurance Agency. Independent agents can walk customers through the application and let them know which questions might trip somebody up later on.
In some instances, the applicant did not mean to answer in a deceptive way, but may not have understood exactly what information the insurer was looking for. Insurance policies can have complicated questions with several possible answers. Click here to learn more about this agency.
