How To Choose And Maximize Use Of An Insurance Professional
What If I'm Buying Insurance That Might Require Disclosure Of Health Information?
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If you do have to disclose your health condition, you must tell the truth. If you don't, it's considered fraud. Not only is fraud a crime, you may find that while you pay premiums year after year -- the insurance company refuses to pay a claim when a loss happens.(To decide whether to use a professional, see:Should I Use A Broker Or Other Professional To Help Me Buy Insurance?)
If you're thinking of buying health, life, or disability insurance that requires you to disclose health information, be careful to whom you disclose your condition. Some professionals, eager to make a commission, will submit your application even if there is almost no chance of your being approved. If you're turned down, the information that's used in making that decision will unnecessarily be reported to the Medical Information Bureau.
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