Insurance applications completed dishonestly by 5%

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A total of 5% of people lie on insurance applications, according to research by Friends Provident.

The survey of more than 2,000 people shows almost nine in 10 always tell the truth when completing an insurance application form but the remaining 5% fill the form in dishonestly. More than half of those surveyed believe insurers should not pay out to dishonest claimants while just 8% feel they should receive a full payment. A total of 15% say how much insurers pay out should depend on the nature of undisclosed information. Meanwhile, one in five people do not read all the terms and conditions on a policy before signing up. Mark Jones, protection products and actuarial manager at Fr...

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