Non-Disclosure
Non-disclosure occurs when important information that could affect an insurer's decision is not disclosed when applying for or changing an insurance policy.
When you apply for insurance, you're required to answer the insurer's questions honestly and completely. This includes providing accurate information about your health, medical history, occupation, lifestyle and any other details requested during the application process.
Non-disclosure happens when relevant information is omitted, forgotten or deliberately withheld. Even if the omission is accidental, it can affect how an insurer assesses your application or a future claim. Depending on the circumstances, the insurer may reduce a claim payment, change the terms of your policy or, in some cases, cancel the policy altogether.
It's important to remember that you only need to answer the questions you're asked, but those answers should be complete and accurate. If you're unsure whether something is relevant, it's always better to disclose it and let the insurer decide.
Working with an adviser can make this process easier. An adviser can help explain the questions, ensure the information provided is complete, and reduce the risk of misunderstandings that could impact your cover later.
Why It Matters
Providing accurate information helps ensure your insurance will work as expected when you need to make a claim. Being open and honest from the beginning can help avoid delays, disputes or unexpected outcomes in the future.
Common Misunderstandings
"If I forget something, it doesn't matter."
Not necessarily. Even accidental omissions can affect your policy or a future claim if the information was relevant.
"I only need to disclose serious medical conditions."
No. You should answer all questions honestly and completely, even if a condition seems minor or well managed.
"The insurer will find my medical history anyway."
Insurers rely on the information you provide during the application process. They may request additional information, but it's your responsibility to answer their questions accurately.
"If my policy is accepted, everything I disclosed must have been fine."
Acceptance of your policy doesn't change your responsibility to have answered the application truthfully and completely.
FAQs about Non-Disclosure
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You should provide complete and accurate answers to all the questions asked during your application or policy changes.
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The outcome depends on the circumstances, but it's best to contact your insurer or adviser as soon as you realise an important detail was missed.
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Yes. If relevant information wasn't disclosed, it may affect how a claim is assessed or whether it's paid.
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Yes. An adviser can help explain the questions and ensure your application is completed accurately.
Being open and honest when applying for insurance is one of the best ways to protect yourself and your loved ones. If you're unsure what information should be disclosed, or you'd like help completing an insurance application, talk to a New Vision Financial Services adviser. We're here to help make the process clear and straightforward.