Hi, everybody, it’s the start of Season 12 and I’m focusing on underdisclosure in protection insurance. Also known as misrepresentation or non-disclosure, this is a situation that everyone wants to avoid. Underdisclosure might not change the terms of insurance, but, it can lead to prices or sum assureds changing, and in the worst case a policy being cancelled from inception.

The key takeaways:

• Non-disclosure is seen as innocent, negligent or deliberate
• It can be tricky sometimes to remember everything in your medical history that the insurer wants to know, so accessing your medical records before applying for cover can be a big help
• Examples of insurance questions in protection insurance where we see underdisclosure

Alan will be back with me next time for a deep dive into a medical condition and how it’s underwritten for protection insurance. We are always happy to take your suggestions on what to cover so please feel free to fire over any areas that you would like us to go into.

Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors PlannerX.