Your health insurance quotes are based on information which is given on your initial application. When you apply for insurance, you are asked a series of questions and asked to give a "yes" or "no" answer to each of them. For every "yes" answer, there is another question that you have to answer pertaining to that "yes" answer. Omissions of any vital data about your health records could lead to denial of claims and or cancellation of your coverage. A premium fund is possible in a couple of situations. In the case of fraud or misrepresentation of either yourself or the agent, you will receive a premium refund and your coverage will be canceled.

It is usually only in the cases of misrepresentation of facts by either the agent who sold you the policy or yourself. There are also some rare cases where the insurance company overlooked information you did include in your application. In the first case, if the consumer misrepresents the facts, the insurance provider won't know it until there is a claim to process. If when processing your claim they notice that there were misrepresentations of the facts on your part, then they will cancel your policy and issue you a premium refund. In some cases, the mistake is due to something being overlooked during the underwriting process. If the company finds that it has overlooked something you did put on your application, then they will assess the cost of covering the claim and either pay it or send you a letter stating that they have made a mistake in assessing your application, cancel your policy and issue you a premium refund.

As much as we may want to believe that licensed professionals such as Insurance Brokers are always honest when it comes to presenting you with facts, in many cases, this is sadly not true. Some agents who are so eager to sell insurance policies in order to get higher commissions, they will tell the consumer almost anything in order to make that sale. When this happens, everyone loses. The consumers who thought they had valid health insurance quotes and have been paying their premiums and the company that the dishonest agent works for. In cases of agent fraud, unfortunately, the customer will receive a premium refund but their policy will also be canceled. It is very important that when you are looking for health insurance quotes that you deal with agents who are highly reputable. Those agents will keep up with all the changes in their industry and will know how to best match the product with the customer. It is also equally important to be honest on your applications.