If I have already taken out life insurance, is it necessary to report a new illness? What happens if, once the policy is signed, I am diagnosed with an illness?
When taking out life insurance it is necessary to inform of any pre-existing illness, as this will determine the risk and, consequently, the price of the premium. However, it is not necessary to report deterioration of health to life insurance. After all, the risk increases with age and, with it, the possibility of suffering from diseases.
In this regard, Article 11 of the Insurance Contract Law states that:
1. The policyholder or the insured person shall, during the term of the contract, inform the insurer, as soon as possible, of the alteration of the factors and circumstances stated in the questionnaire provided for in the preceding article which aggravate the risk and are of such a nature that if they had been known to the insurer at the time of perfection of the contract, he would not have concluded it or concluded it under more than Burdensome.
2. In personal insurance, the policyholder or the insured person is not obliged to communicate the variation of the circumstances relating to the state of health of the insured, which in no case shall be considered an aggravation of the risk.
What must be reported to the insurer is the aggravation of the risk for reasons that do not have to do with a new disease. That is, if the risk increases due to a change of job or a new risk hobby. In this case, the company will review the case to see what it covers and what it doesn’t and how much the premium goes up.
If this increase in risk is not communicated and the insured dies or with a disability contracted in the policy and the accident occurs in unreported circumstances, the coverage will not be effective.
At PuntoSeguro we not only process your life policy, but we also help you in any future process you may need. We also advise you when hiring your policies and inform you of the best rates to renew your insurance with the necessary advance.
In addition, in our life insurance comparator you can compare the prices and conditions of the best life policies on the market, including life insurance with coverage in case of absolute permanent disability. And just by taking out a life policy with us you can participate in the #RetoPuntoSeguro, with which you will get an interesting bonus on the renewal of your life insurance just for having an active lifestyle and overcoming the monthly challenges.
If you need more information to take out insurance or need any additional clarification, do not hesitate to contact us.
