Association of British Insurers says disclosure of medical history vital for life insurance
Thu, 26 Aug 2010
The Association of British Insurers (ABI) is pointing out the need for clients to fully disclose their medical history when taking out protection and health insurance .

It also reiterates the significance of complete disclosure by reassuring consumers that life insurance is based on their health when the policy is taken out and not any subsequent changes. The protection market has striven to improve medical disclosure for several years, especially with regard to critical illness (CI) cover and, according to ABI statistics, is making progress.

Non disclosure now accounts for around 2 per cent of CI claims declined, which is a sharp fall from the high of near 20 per cent.

The comments come as part of an ABI attempt to build consumer confidence in the industry. Under a 'disclosure is key' heading, it says: "Whether it is previous medical problems or a recent speeding fine, full and early disclosure avoids any possible problems later. Holding back something that is relevant will be a false economy if it means your claim is later turned down. If in doubt, always tell your insurer ."
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