One of my serious concerns about firms' activities relates to financial protection ‘non-disclosure'. As much as consumers do have to take responsibility for their actions - ie when they say they didn't know about something and clearly did - the industry has to sort this issue out.
The matter has created negative publicity for the market again only this last week when – on the back of FOS comments – it was publicly revealed a critical illness claim was declined on the grounds of non-disclosure of medical conditions not related to the condition the claim was declined against. It is a practice the industry has applied for years, so as much as closer scrutiny of an applicant’s medical detail at the application – not the claim – stage is likely to increase costs TCF means firms can no longer hide behind this argument. When you buy private medical insurance it is clear w...
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