Note, I assume you mean TLS 1.2, not 2.1.
Yes you will have a security issue. You're trying to talk to a service that requires SSL for encrypted communications. Disabling it would prevent that assuming the remote host even allowed non-HTTPS communication.
The problem is that your app isn't using a version of SSL that the remote server requires. Simply setting a value in the code doesn't automatically enable the feature. The server hosting your app must have TLS 1.2 enabled and the framework must be updated to allow for using that protocol. Since you are using .NET 4.5 then it doesn't support TLS 1.2 out of the box. To fix this you need to follow the steps here. Specifically you need to either upgrade the framework version on the machine to a newer version (4.7+) or apply the appropriate hotfixes and then set the necessary registry entries as discussed in the document.