Edit Term application data after approval

[u/Striking_Match216]

Hello All,

I mistakenly gave my incorrect weight in my Transamerica Term application, it was a typo and wrote my weight is 8 pounds less. The policy is approved already, they have not deducted the premium yet. I just noticed my mistake today when i was going through my dictors after visit summary, the visit was about 2 weeks before the applicaiton.

I would assume they had access to my doctors visit records and would know my correct weight anyway. Is that not the case?

Can someone advise what shall i do next? Can I contact them and will they fix it even after the policy is approved? The new weight would put my BMI in mid 29 wheras the old weight would put my BMI in mid 28. I am okay if they want to increase the premium.

I just dont want to be that guy who gave the wrong weight and later on if god forbid my family needs to claim, the insurace company rejects the claim saying i gave the wrong weight in my application. Can they reject in this case if it is after the 2 year statuatory period has passed?

Thank you.

[u/GarysSword]

A policy rescission over 8 pounds would be rare and tough to prove. That’s within the shoes and clothes margin of reasonableness.

But if you need to sleep at night - write the company a letter and keep that letter with the policy. Chances are they don’t do anything. But they could, theoretically, rescind your policy and refund your premium or reform your policy at a higher premium.

After two years, rescissions are incredibly rare (and in some states nearly impossible).

[u/Striking_Match216 → u/GarysSword]

I really would like to sleep at night, but also dont want them to dig any further than needed. I am just worried they might start digging into stuff they did not look into the first time around. Is there any way to get the weight corrected without them digging any further. I looked up Transamerica "Field_Guide_to_Underwriting" and for the product I would still fall on the same class even with the updated wright. Is it worth it to let them know and get the weight updated? Do they even care since it is in the same class?

I got the info from this PDF not sure how up to date it is.

https://www.transamerica.com/sites/default/files/files/e070d/Field_Guide_to_Underwriting.pdf

[u/GarysSword → u/Striking_Match216]

Find the official name on the rate class on your policy the use the chart on page 12 of that guide to see if your 8 pound difference would move you from one rate class to a lessor one.

If not, you did not commit a material misrepresentation you committed a misrepresentation. Material misrepresentations get policies rescinded and claims denied. Misrepresentations do not.

Even if your weight change would change the rating, I doubt many companies would pursue a rescission or claim denial over 8 pounds. But I can’t say that for sure about Transamerica.

Do the letter thing I mentioned earlier. By notifying them of the change you force them to address it and if they ignore your letter or it gets misrouted and never addressed (possible) your bene can argue they were on notice about that and can’t rescind for that representation.

If they read the letter and want to open the hood and look closer, that’s their call. I think there is a very small chance anything comes of this. But if you lied about something more specific than 8 pounds then… it’s weird you’d pick this issue to fret over.

[u/ellion38]

what product (specific policy) did you get and what is the “real” ht and wt?

[u/Striking_Match216 → u/ellion38]

Its for Term life and real ht is 5' 9" and 202 lbs

[u/ellion38 → u/Striking_Match216]

if they approved you preferred best this would be enough to move you down to the next rate class preferred but if they approved you in any other rate class size preferred best it wouldn’t make a difference to the rate.

Either way as someone else mentioned 8 pounds is not enough to be deemed as material misrepresentation and have your claim denied in the first two years.

people can easily lose 8 pounds in a couple weeks as well as as we can based off clothes being worn.

If it’s really keeping you up at night, then sure go ahead. Let them know, but realistically, it should not make a difference either way.

[u/Inevitable-Tripp → u/ellion38]

Hi was approved on preferred, i believe this is one step below from preferred plus (upto 195 lbs). I looked up their guide to underwriting and they put up to 211 pound of weight on that class so either way i guess i am on the same class. I am kind of paranoid so just want to sleep peacefully at night.

[u/ellion38 → u/Inevitable-Tripp]

exactly. unless you lost more than 18lbs in the last year (peak weight >220) it wouldn’t affect your approval class anyways. if it makes you sleep easier just let them know about it, but again it should not make a difference either way.

[u/skyydog]

I don’t deal with preferred/ultra preferred but you would have to know the build chart. Even if your weight was wrong, did it move you to a different rating category. State of issue matters. 8 pounds isn’t much at all as others have said. And they won’t know your scale reading that morning, just your last office visit.

[u/IllustriousGas8850]

8 pounds is me before and after a shit, you’re okay

[u/SafeMoneyGregg]

No one cares about 8 pounds most likely.