It seems that many of us have a memory block when filling out insurance proposal forms, as a review by AXA claims that one in fourteen applicants give false information about lifestyle and previous medical conditions when applying for cover.
Alcohol intake and smoking habits are often scaled down when the proposal form appears, but things like depression and back problems, common enough general health problems, are often overlooked when it comes to disclosure.
It was also found that many applicants were prepared to lie about their weight, with women twice as likely to do so as men.
The age group 18 to 34 years old are most likely to withhold or include false information when looking for insurance, while over 55’s present the most accurate information.
AXA estimates that 25% of Britons incorrectly believe that they will face large premium increases if they are honest about particular lifestyle habits or medical conditions, Whereas conditions that affect a large proportion of the population, such as depression and back problems, are unlikely to have a significant impact on premiums.
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