Misrepresentation to advisers rife in declined protection claims

Majority of declined claims in 2023 were due to misrepresentation

Hope Coumbe
clock • 2 min read

Advisers are increasingly being fed misrepresentations when it comes to details for protection policies with a concerning number of claims having to be declined due to this, LV= says.

In it's latest ‘Fuel For Life' report, head of underwriting and claims Anna Rogers labelled misrepresentation "the thorn in the side of our industry". "Protection can be a lifeline in cases of valid claims, but when information has been misrepresented at application stage, this often leaves insurers in the unfortunate position of having to decline claims," the report read. Among the 6% of claims that were denied in 2023, LV= research noted 73% had been knocked back due to misinformation. The insurer said there are "several reasons people choose to misrepresent their health to advis...

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