Insurance and the honest truth
What types of questions can you expect?
Along with your age, gender, profession, income and level of education, your insurer will want know about your health, family history and lifestyle. Questions they’ll ask may include:
• Are you a smoker?
• Do you have any risky hobbies or play any risky sports?
• Do you travel to areas deemed to be high risk?
• Have you ever been treated for illnesses like cancer, diabetes or heart attack?
• Do you have a family history of illness?
Why do people lie in insurance applications?
There are many reasons why people might be tempted to lie, but usually it’s to get cover they may not otherwise qualify for, or to secure lower premiums. The things people often lie about include smoking habits, a pre-existing medical condition or a family history of illness. This is always a bad idea and here’s why…
Honesty is the best policyIn the event of a claim, your insurer will attempt to verify the information you provided in your application. If they discover that you lied or omitted relevant information, they could reject the claim and refuse to pay the benefit, or cancel your policy. And depending on the circumstances, they could even bring charges against you for insurance fraud.
The moral of the story? Always opt for the truth, the whole truth and nothing but the truth when applying for insurance cover.
If you’d like to know more about cover from Standard Bank Direct life insurance services, get a quote or request that a customer service agent call you back.