Can I raise the insurance amount on my husband after learning about his brain tumor?

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Can I raise the insurance amount on my husband after learning about his brain tumor?

In 06/10 my then boyfriend and I bought a $250K house together. He purchased a $100K life insurance policy (me as beneficiary). In 01/11 he was unexpectedly operated on for a brain tumor. Thye doctors claim that they excised all of it. Statistics for a 54 year old man’s survival rate is not great within 5 years or so. May I raise the insurance amount at this point (I fear that I will have to sell our house is he dies within 2-5 years).

Asked on April 6, 2011 under Insurance Law, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Legally, you can buy as much insurance as you can afford and as the insurer will sell you *after full and honest disclosure* of medical conditions or anything else which you are asked about on the application for (or to increase) insurance. In other words, you and your boyfriend can't hide the tumor if asked about medical conditions, operations or treatements he's had, etc.--hiding it, if it's inquired into either specifically or as part of a general evaluation of medical condition--would constitute insurance fraud. On the other hand, if there is full and accurate disclosure, then you can buy whatever level of insurance they'll write for you. So the issue is simply that you have to be truthful when applying.


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