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Life Insurance News
Legal & General: Life insurance non-disclosure can be avoided - 27/07/2007
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Britons who apply for critical illness cover with life insurance provider Legal & General are reminded of the dangers of non-disclosure at application.
The financial services firm suggests that customers taking out cover receive information about the consequences of withholding any information that could impinge on future claims.
"Our application forms give people every opportunity to fully disclose their history and they contain clear, unequivocal warnings on the potential impact of non-disclosure," said protection and housing PR manager Joe Wiggins.
He added that advice is provided in the form of leaflets and further guidance is distributed with insurance quotes, prior to cover being taken out.
Mr Wiggins was speaking after research from Legal & General revealed that 12.2 per cent of critical illness claims were declined for non-disclosure reasons in 2006, with the firm stating that it complies with industry guidelines to pay a proportion of a claim in the event of inadvertent non-disclosure.
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