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Insurance: Why honesty is important - tips from a financial expert
Cheat a little? This can be expensive when it comes to information in insurance applications. This is what you should pay attention to. According to a report from www.n-tv.de, policyholders must provide truthful and complete information when applying for insurance. This is not only important for a trusting business relationship, but also a legal obligation. Insurers cover a certain risk with the insurance contract and can only do this on the basis of correct information. If lies are later discovered in the application, this can have serious consequences for policyholders. The Impact of Dishonest Information Providing false information on insurance applications can lead to a variety of consequences depending on the...
Insurance: Why honesty is important - tips from a financial expert
Gemäß einem Bericht von www.n-tv.de, müssen Versicherungsnehmer bei Anträgen zur Versicherung wahrheitsgemäße und vollständige Angaben machen. Dies ist nicht nur wichtig für eine vertrauensvolle Geschäftsbeziehung, sondern auch eine rechtliche Verpflichtung. Versicherer sichern mit dem Versicherungsvertrag ein bestimmtes Risiko ab und können dies nur auf Basis korrekter Angaben tun. Wenn Lügen im Antrag später aufgedeckt werden, kann dies schwerwiegende Folgen für die Versicherungsnehmer haben.
The impact of dishonest information
Providing untrue information on insurance applications can lead to various consequences, depending on the type of insurance.
Health information
Health information is crucial for life insurance, occupational disability insurance or private health insurance. If dishonest information is provided and this is discovered later in the event of a claim, the insurance contract can be canceled and reversed. In addition, the agreed benefits cannot be paid in the event of a claim. It is therefore advisable to seek medical assistance if you have any questions about your health or at least to have access to your own medical records.
Mileage information for vehicle insurance
When it comes to car insurance, policyholders must state how many kilometers they drive per year. The amount of the contribution depends on this. Lies about mileage can be discovered in the event of an accident and lead to the premium being recalculated. In some cases a contractual penalty may also be imposed.
Profession and age
Certain professional groups and age groups can benefit from cheaper tariffs. However, incorrect information about your profession or age can result in the insurer exercising its right of withdrawal. In the event of a claim, this can lead to disadvantages, e.g. higher premiums for travel cancellation insurance.
So it is advisable to be honest and complete when making insurance applications. The risk of providing dishonest information can have long-term financial consequences.
Read the source article at www.n-tv.de