Most insurance applicants willing to get a medical report
Nine out of ten insurance applicants are willing to undergo a medical examination if it would reduce the possibility that a future claim might be declined, according to the latest survey by Swiss Re.
The reinsurer has released its Insurance Report, which states: "These preferences reflect a lack of confidence among consumers in their ability to complete application forms correctly and, perhaps, a desire to pass the responsibility over to someone they trust to do the job more expertly, typically a doctor."
Swiss Re suggested the introduction of shorter application forms enabling most applicants to be accepted instantly, although these would have to be carefully worded.
The report praised the decision by Legal & General to remove the continuing duty of disclosure up to acceptance.
"This approach has many attractions and would reduce some of the problems occurring at claims stage caused by the duty of disclosure continuing after completion of the application form and ending when the risk is accepted by the underwriter," the report stated.
Swiss Re called for insurers to increase consumer confidence in the area of disclosure.
The Insurance Helpline specialises in obtaining cover for people living with medical conditions.
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