Life Insurance and potential asbestos exposure

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fishandchips

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#239335 12-Jul-2018 15:40

Hi All,

Is there anyone who can help with a question about Life Insurance and potential asbestos exposure? Where I work I have found out I may have been exposed to asbestos in the air. I have signed up to the asbestos register and have had the chest xray and going for a lung function test soon. Question is, how will this change my life insurance policy, or will the insurance cancel the policy straight away?

I am reluctant to have the phone call with the insurance company with out knowing what might happen.

Can anyone help?

Cheers

andrewNZ

2487 posts

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Inactive user

#2055224 12-Jul-2018 17:37

First. What level of exposure are we talking. It typically needs to be very high to pose much of a risk.
Don't freak out, it's been made out to be a lot worse than it usually is.

Second. If you don't talk to the insurance company, they could possibly deny any future claim based on you withholding the information.

Wellingtondave

160 posts

Master Geek
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#2055249 12-Jul-2018 18:21

Talk to your G.P, they deal with this all the time with providing details to your insurers medical officers. Then - yes you should seek clarification from your insurer. If there is something that you fail to disclose future claims may be denied, however if you were unaware of this exposure when the policy was issued then your cover level and premiums may well not be impacted at all.

sonyxperiageek

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#2055276 12-Jul-2018 19:07

You don't work at SDHB do you?

Sony

fishandchips

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#2057152 16-Jul-2018 15:19

Yes I work at the DHB. Great place. Have all the proper precautions in place to gain access to the areas now. It is the 9 years of access previously which is the issue. I pull out my life insurance policy but as per normal it is written in lovely language. Time for a phone call.

Thank you everyone for the advise.

MikeAqua

8030 posts

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#2057163 16-Jul-2018 15:37

If you took out the policy before you knew about the exposure, then I don't believe the insurance company can pull the cover or increase your premiums. But it would be prudent to inform them, so they can't day you didn't.

Mike

fishandchips

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#2059366 20-Jul-2018 15:29

So an update. I spoke with my insurance company and they are happy that I had no knowledge of the exposure prior to starting the policy, so no changes are needed. If i was to increase my policy then things would change.

I had a follow up email from a insurance adviser from the company asking if i needed any help with coming to terms with the exposure. Nice one for my insurance company.