According to the findings of Norwich Union, non-disclosure of issues relating to Multiple Sclerosis (MS), anxiety, depression and smoking are the most common reasons for non-payments of life insurance claims.
Tony Jupp, the chief underwriter for Norwich Union Life, says that it is vitally important to maintain total honesty when making insurance policy disclosures as a general rule.
When it comes to life insurance, however, Mr Jupp maintains that the rule is even more important to stick to as a claim can be much more important to people's livelihoods and is made at times when emotions are running high, meaning a fraught claim can be traumatic.
"People need to know upfront the potential consequences of not disclosing details at proposal stage and the start of the process is where an IFA's advice needs to be the most frank and effective," Mr Jupp said.
"When it comes to applying for life assurance, people's ability to tell the 'whole truth' can be compromised by a mixture of embarrassment, not wanting to face the facts of an illness and trying to read their own meanings into what the insurer wants to know.
"We have found that issues concerning MS, anxiety and depression, and smoking cause the most problems at the claims stage."To read more about insurance, click here.
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