If in doubt, leave
it in – understanding non-disclosure
Non-disclosure can be a huge bone of contention for insurance customers, who are worried that something they forgot to mention years ago could affect their claim if something goes wrong.
Of all the claims we receive, only about 1-2% are declined due to non-disclosure. But although the numbers are low, the impact on an individual customer can be big.
It’s a situation we never want to see our customers in, so we work proactively with advisers to help customers understand their duty of disclosure.
If you’re thinking about applying for life insurance, we’ve put together a few things you should know about what you need to disclose, and why it matters.
Why does disclosure matter?
When you apply for a policy, we ask for information that allows us to tailor and price your insurance according to your specific circumstances.
‘Non-disclosure’ refers to information that you haven’t told us (whether deliberately or accidentally) that might have affected the cover we offered you.