Did I tell whole truth?

pool-hustler

I have been thinking about getting cheaper Life Insurance so I started searching.

I did some reading and am a bit more responsible as I get older.
I've discovered it doesn't matter about your circumstances after the contract is agreed, it's about the accuracy at the time of applying.

therefore I have no way of knowing if I'm actually covered? The way I was back then I probably said NO to something that could have been a yes. Seeing the doctor for depression or anxiety for example!

Therefore I can only think the best thing to do is to start again. it does seem cheaper now anyway. Plus I have the reducing payout type of cover....

Is there any reason NOT to cancel?

ACG

If you have said no to depression which you had, the insurer would expect that you remember that. Which means you would never get the full payout - if any at all depending on how bad it was.

I would certainly either get a copy of the questions/answers you gave to check whether you did complete it properly AND/OR take a look at what you can get now. You say its cheaper now which may be the case, but you may find it gets increased due to a rating being applied.

huckster

Depends on what you were originally asked to declare.

You could ask them for a copy of your original application, by just saying that you are keen to maintain copies of all such applications and appear to have mislaid this. Then decide what you want to do, when it comes back. If you did fail to disclose any medical issue and this was clearly a requirement, then yes it might make sense to cancel and take up cover elsewhere. When you cancel, you can just give the reason that you have found more competitive cover elsewhere.

Insurance_Salesman

Hi, if you have concerns then request the original dis-closure.

It's up to you to disclose all relevant information, even if they didn't ask you if you'd had green parrots disease.

If you can rebroke for a cheaper a premium then you should go for it. I would ensure your old policy is like 4 like.