Changes in the treatment of protection claims where medical information has not been fully revealed will not mean consumers can be more relaxed in their disclosure, AEGON warns.
The Association of British Insurers (ABI) yesterday introduced three categories of non-disclosure designed to improve customer clarity and confidence in the protection arena. The three categories, which replace previous guidance by the ABI, are ‘innocent’, resulting in the claim being paid in full, ‘negligent’, applying a proportionate remedy, and ‘deliberate’ or ‘without any care’, resulting in a declined claim. AEGON says the changes will improve the protection market but has a warning for consumers and advisers. Rod McKie, head of marketing, individual protection, says: “This is a ...
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