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Jane Pierce, Todd’s widow, sued the following year and the claim was eventually paid.While most drivers are aware that they must inform their insurers of changes like moving house and getting a new car, fewer people know that they need to declare changes to their working situation — whether they change career or job title, become employed after being a student, or stop working due to retirement, unemployment or any other reason.
The effect of your occupation on your car insurance is partly based on claims data (how many people with that job title have made claims in the past), as well as perceived risk — bar staff are more likely to be driving late at night, for example, when accidents are more common.
By failing to inform your insurance company of changes to your circumstances, you may invalidate your cover, meaning your insurer could refuse to pay out in the event of a claim.
Rod Jones, insurance expert at u Switch.com, says: “Millions of drivers are changing careers and job roles, blissfully unaware of the potential impact on their car insurance policy.
If either clause is invoked by the insurance company, the insured person’s family would receive no death benefit, though they would get back the premiums paid for the policy.
The key rules Whenever an insured person replaces an existing life insurance policy with a new one, the time clock for the suicide clause is set back to zero and starts over again.
The insurer, Relia Star Life Insurance Co., launched an investigation into these questions, rather than paying the death claim immediately.