New question in Life Insurance FAQ

Posted on April 2, 2012 and updated January 23, 2019 in Life Insurance Canada News, Life Insurance FAQ 2 min read

New question in Life Insurance FAQ:

My spouse and I have had term life insurance policies for a number of years with the same company. We also have our home and car insurance with them. He recently increased his coverage because he was turning 60 and we were told the rates would rise after his birthday, but I have not. I was diagnosed with cancer 3 years ago and am now in remission. Someone told me that my term life will no longer pay out because of my cancer diagnosis and that I should stop making payments. Is this true?

Thanks for the note. Unless you are required to resubmit medical evidence at renewal. A life insurance claim would be based on health and lifestyle information at the time of application.

There if the policy is good standing at the time of death and the initial policy questions were answered truthfully the policy should pay out.

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