If you conceal your medical history and fail to tell the truth, within two years after the policy comes into effect, the insurance company and agent will know that you have suffered from a more serious illness. You have the right to choose to refuse insurance or waive liability based on your actual health condition. It even has the right to terminate the insurance contract and refund the premium paid by the insured.

If it is discovered two years after the policy comes into effect that the insurance company has lost its right to defend according to the new insurance law, the contract will apply and compensation should be paid.

Extended reading: How to buy insurance, which one is better, and step-by-step instructions to avoid these "pitfalls" of insurance