The study in question – commissioned by insurance company Zurich – has exposed the fact that one in three people would be economical with the truth when completing an insurance application form, in a bid to keep costs as low as possible.
Additional findings also suggested that some people feel comfortable not disclosing specific information, with up to 33% feeling tempted not to tell the entire truth when filling out these sections.
Overall, a proportionate 70% said they felt that there were situations in which it was perfectly acceptable to fib, and additionally, over three quarters said they felt that insurers tried to avoid paying out for claims.
In response to these findings, the insurer has warned that giving incorrect information on forms could render a claim as invalid.
Head of Protection and Underwriting for Zurich UK Life, Phil Brown, has said that it is understandable that people are putting cost first, but failing to disclose all information at the application stage could have disastrous consequences in the long term when the claim is rendered invalid.
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