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Do insurers try to find reasons not to pay?

21 November 2018 7:16 PM
Tags:
Insurance
life insurance
Momentum
momentum life insurance
Maritha van der Walt

Dr Maritha van der Walt (Convenor of the Medical Underwriting Standing Committee at Asisa) answers 5 FAQs about life insurance.
pexels.com, 2018

The principle is to go back in time… What would our terms have been if we had this information? Would one expect a reasonable person to have disclosed? Is it material to the issuing of the policy?

Dr Maritha van der Walt, Asisa

The Money Show’s Bruce Whitfield interviewed Dr Maritha van der Walt, Convenor of the Medical Underwriting Standing Committee at the Association for Savings and Investment South Africa.

Van der Walt discussed five things consumers need to know about life insurance.

  • Why do we need long-term insurance cover like death, disability and critical illness cover?

  • What is underwriting and why is disclosure so critically important?

  • What is a fully underwritten policy and why is this the best cover to buy?

  • How does the claims process work?

  • Do insurers genuinely exist to pay honest claims or do they try and find reasons not to pay?

Listen to the interview in the audio below.

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This article first appeared on 702 : Do insurers try to find reasons not to pay?


21 November 2018 7:16 PM
Tags:
Insurance
life insurance
Momentum
momentum life insurance
Maritha van der Walt

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