Buying an underwritten policy? Answer all questions honestly and accurately. 

When buying a life insurance policy it is very important to answer all questions honestly and accurately.


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.



Posted in Insurance 101 on 29 Nov, 2017