What happens if an insured wishes to increase their policy’s face amount?

When an insured wishes to increase their policy's face amount, they typically must provide evidence of insurability. This requirement ensures that the insurance company has the necessary information to assess the risk associated with increasing the coverage. The insurer evaluates factors such as the insured's health, lifestyle changes, and any other relevant information to determine if the increase in face amount is acceptable.

This process helps protect the insurer from issuing additional coverage without understanding the insured's current risk profile, which may have changed since the original policy was taken out. It also ensures that the insured is financially accountable for the increased risk they are requesting. Therefore, providing evidence of insurability is a crucial step in the process of increasing the face amount of an insurance policy.