When buying a life insurance policy it is very important to answer all questions honestly and accurately.
Why? An underwritten policy is priced according to your individual risk – hence all the questions. Not answering honestly and accurately could lead to something insurers call ‘non-disclosure’, and that could mean a policy doesn’t pay out when it comes to claim stage.
So whilst it may seem like a good idea to save a few rand a month by not disclosing the fact that you smoke an occasional cigarette, you may in fact be wasting money and defeating the point of taking out insurance.