ARTICLE · 14 APRIL 2015

Life insurance: what is your duty of disclosure?

Colin Biggers & Paisley

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You must seriously consider your duty of disclosure, as insurers may avoid contracts for fraud and misrepresentation.

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Chris Jones

In brief - Insurers may avoid contracts for fraud and misrepresentation

While it may not always be easy for insurers to avoid a life insurance contract, it is critical that you err on the side of caution when considering your duty of disclosure, particularly in regard to your prior medical history.

Failure to disclose may lead insurer to avoid life insurance contract

Life insurance is serious business. After all, it is designed to ensure that if you die or are permanently injured, you have the security of knowing that your life insurer will pay a claim allowing you to take care of your (and your family's) future financial needs.

However, obtaining life insurance cover is not a simple matter of mindlessly filling out a form and sending it through to the insurer.

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