Revealing unfavorable medical information can result in a higher premium, but it is important that you be as accurate as possible. Being upfront and honest about your health can preserve the death benefit your loved ones may count on when you die. Your policy is a contract between you and your provider. If you die and the insurance company finds out that you didn't disclose a health condition or weren't truthful about other questions on the application, the policy may be voided. If that is the case, your beneficiary will not receive the death benefit you planned.