Underwriting is the process an insurer uses to assess your application and decide whether to offer cover, as well as the terms and premium that will apply.

Policy documents are the official documents that explain how your insurance works, including what you're covered for, what's excluded, and the terms and conditions of your policy.

Non-disclosure occurs when important information that could affect an insurer's decision is not disclosed when applying for or changing an insurance policy.

A loading is an additional premium charged by an insurer when they determine there is a higher level of risk associated with providing your insurance cover.

A lapse occurs when your insurance policy ends because premiums haven't been paid or the policy has otherwise been cancelled. Once a policy has lapsed, your cover generally stops.

An exclusion is a condition, event or circumstance that your insurance policy does not cover. Understanding your exclusions helps you know exactly when your insurance will - and won't - pay a claim.