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May 29, 2012updated 13 Apr 2017 8:44am

Call for full information disclosure

A total of 33% of people will consider embellishing their responses when completing an insurance application form in order to keep their premiums down, according to research from Zurich. Out of all those questioned, Zurich said 44% of respondents cited price as being more important than having the peace of mind that they were covered A total of 72% of respondents said they believe there are circumstances where it is acceptable to stretch the truth or tell a white lie

By Ronan Mccaughey

A total of 33% of people will consider embellishing their responses when completing an insurance application form in order to keep their premiums down, according to research from Zurich.

The research found that women are more likely to provide incomplete information, with questions about weight, alcohol consumption, family history and medical health most likely to illicit partial responses. 

Out of all those questioned, Zurich said 44% of respondents cited price as being more important than having the peace of mind that they were covered  A total of 72% of respondents said they believe there are circumstances where it is acceptable to stretch the truth or tell a white lie.

Phil Brown, head of protection and underwriting for Zurich UK Life, said it was understandable that people put cost first given the current economic squeeze.  

Brown said: “But failing to disclose all information at the application stage could have disastrous consequences in the long term when a future claim is rendered invalid.”

 

 

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