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Channel: Christopher Lynch – BT Policyholder Protection Blog
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Tell All: Making a Case for More Dialogue in the Insurance Application Process

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  Do nothing secretly; for Time sees and hears all things, and discloses all. – Sophocles   Keeping secrets during the insurance application process is a bad idea. A policyholder who responds to application questions with incomplete or evasive answers to try to save a few dollars in premiums risks losing coverage altogether when those secrets are revealed. Conversely, by providing the underwriter with the information she needs to properly assess the risk, a policyholder is more likely to receive an insurance policy that meets its coverage needs. It behooves the parties to try to make the application process a cooperative exchange of information.   But even among well-intentioned parties, a potential for disconnect exists. Each side looks at the information exchange from a different...

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