One of my client switched her IncomeShield to other insurer, Company A, telling me the policy cover her osteoarthritis of her hand, even though IncomeShield covers her as policy was taken before diagnosis. she switched and I suspect the agent did not declare her condition in the proposal form.
She informed me Company A covers her, which I know is not possible unless is non disclosure. Advised her to make sure it is declared black and white in the proposal form She kept telling me she is covered.
I asked to show me a copy of the proposal form submitted and true enough, all questions were answered "no" which means she has no condition at all, sure policy will be issued.
This is what we call NON-DISCLOSURE.
In future insurer stand to dispute the claim and can even cancel policy on ground of non disclosure.
She was told by agent questionnaire did not ask for arthritis. But all insurer will sure have a question that ask if you have received treatment for any condition. This question will mean if you have known condition, you need to declare. This is the reason why I always advise client not to any how switch the Shield Plan unless condition declared and accepted by insurer.
No comments:
Post a Comment