An applicant for life insurance was rated due to a health condition. Five years later, the condition has resolved. What can the policyowner do?

Question: An applicant for life insurance was rated due to a health condition. Five years later, the condition has resolved. What can the policyowner do?

Answer options:

• Cancel the policy and apply for a new one. ✅ Request the insurer to reconsider their risk classification, potentially to remove the rating.
• The rating is permanent and cannot be changed.
• Automatically receive a refund of the extra premiums paid.

Correct answer: Request the insurer to reconsider their risk classification, potentially to remove the rating.

Explanation: Policyowners have the right to request a review of their risk classification if there has been a significant positive change in their health or lifestyle (e.g., quitting smoking). The insurer may require new medical evidence to consider removing the rating.