One couple’s $97,500 life insurance mistake

Posted by Ravi Gulati | Posted in Financial Planning, News of Interest | Posted on 06-12-2013

A top Ontario court has ruled that a woman cannot claim a $97,500 life insurance policy because the application by her late partner contained inaccurate information about his health.

This decision by the Ontario Superior Court again highlights the importance of correctly answering health-related questions on insurance applications. You may think you are protected once a policy is issued, but that is not the case. This is because the insurance company might only check the details when you make a claim.

One couple’s $97,500 life insurance mistake | Toronto Star.