Will the life insurance co obtain our medical records?

You need not contact insurance company. You didn't lie in your application because at that time of signing the paper, he did not know he had some arthritis in his neck. By you signing off on the waiver, the insurance company got the right to do their own investigation. Let them find out on their own. You need not help them by doing their job. I hope you are taking up "Term Life Insurance Policy." In life insurance, the term life is the only insurance you need, nothing else.

Yes, they frequently do obtain them.

Ignore her answer....I don't know of ANYONE that has ever died with arthritis. I'm still rolling my eyes at the 'best answers' record with answers like that. If they have reason to get medical records they will, but it's VERY infrequent when there are no medical issues. That's not something you'd need to disclose. If you were buying disability insurance then the answer would be very different.

If it's not a material misrepresentation, then you should be okay. The risk presented by arthritis in the neck is not life-threatening. Therefore, it would not result in a higher premium charge, or a denial of a claim, because arthritis in the neck is not a cause of death, or potential cause of death. Arthritis should not result in any difference in the underwriting of your husband's policy. Having been an underwriter, I feel confident in stating this position to you. However, you should Always answer all questions truthfully on a life insurance application. Also, if deemed necessary by the underwriter, your medical records may be requested through the Medical Information Bureau which is a central computerized facility that keeps on file the health history of applicants for life and health insurance with member MIB companies. The MIB was organized to share medical records of insurance applicants between insurance companies to guard against fraud by applicants. It may be a good idea to contact your life insurance agent and make him aware of the situation, just so you have a written statement showing you advised your life insurance agent of this change to your application answers, to be on the safe side. The agent can review the situation and contact the insurance company, if necessary, to find out if there will be any change to your coverage, or premiums. Best of luck to you.

I completely disagree with the first post, especially regarding the comment about term being the only insurance to buy. It's impossible to know what you need without knowing your situation. Term, Whole Life and U/L all have their purposes and if there was a "One size fits all" solution, the other products would not be offered. Anyway, about your question: Typically the insurance company will obtain your medical records to verify your responses. In your particular case, arthritis is not a serious life threatening thing, so it might not effect your policy either way, however, becuase the diagnosis was so close to the application date it can be disputed about whether he had a undiagnosed pain at the time of the application. This could result in a material misrepresentation decision from the company and decline your application. Also, when it comes to test that don't have neagative results, you should actually make sure to put that in. IF you are able to tell the doctor that you had resently had tests on your heart and the doctors said there is nothing wrong, it shows that you are healthy, which will make your application stronger. Leaving this kind of information out won't hurt your application though I don't think. Bottomline: You should call your agent and discuss the tests that you recently had done. He/She can make the decision of whwther it will make a difference or not (every company looks and certain things a little different). When the policy is approved, your agent will have to make sure that nothing has changed in your health situation anyways, at which time you will need to disclose this anyways.