Non-Disclosure and How it Invalidates Your Life Insurance

Article published on 22nd April 2013

Female Nurse

Non-Disclosure is the biggest reason why an Insurance Provider can legitimately refuse to pay an Insurance claim on your policy. Most of the time people do not even realise that they have not disclosed all of the relevant information to the Insurer.

You must tell your Insurance Provider the correct information about yourself, or you will be paying for a policy that you will never be able to claim on. Below is a list of the stipulations that can affect the validity of your insurance application:

In order to ensure that you have fully disclosed all relevant information to the Insurance Provider it is imperative that you inform them of any changes between the time of your application and the policy start date.

For example, say you apply for a Life Insurance policy on a Monday with a policy start date of the following Monday. In the meantime you visit the doctor who informs you that your recent ill health could mean that you are Type 2 Diabetic. You MUST inform your Insurance Provider of the potential diagnosis before the policy start date.

Failure to tell your Insurance Provider of any potential diagnoses that you are aware of before the policy start date, could invalidate your policy. This means that should you die your loved ones would not be able to claim on the policy. Not only would your family be coping with the loss of you, but they would also discover that they do not have the funds that you had all planned on being available upon your death.

Whilst this all may seem a little doom and gloom, it is really not the case. If you are diagnosed with cancer a week after your policy start date and die as a result, your family will be able to make a successful claim on the policy. The primary difference is that neither you nor your doctors were aware of your prognosis at the time that your policy became active.

Upon your death the Insurance Provider will check with your GP as to the circumstances surrounding your passing and its relation to any other medical conditions. It is really not worth leaving anything out of your insurance application on the off chance that no one will notice, because quite frankly the Insurance Provider will find out.

Our industry trained Financial Advisors submit applications to Insurance Providers on a daily basis and are used to detailing all of the essential information required for a successful application. If you provide a clear and honest account of your financial background, lifestyle, family and personal medical history, we are happy to help you.

If you are in any doubt as to whether you should disclose something on your Insurance application then we strongly advise that you speak with a Financial Advisors. Why not call one of our team on freephone 0808 17 82 777 And we will guide you through the application process.

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