Consumers have a 'worrying' lack of understanding around the critical illness (CI) application process, according to a survey by Scottish Equitable Protect.
Of the 1,536 people surveyed, 31.6% of respondents are unaware if they do not fully disclose all of their medical history information a claim being turned down for non-disclosure. A further 40.7% of respondents say they believe a product provider would still pay a claim if the applicant had not completed the application form fully or correctly. The survey suggests one reason for this may be because many people believe a product provider will obtain their medical history from their GP before a CI plan starts as according to the survey, 70.4% of respondents believe this to be the case. ...
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