Life insurance 101: Mention every detail of your medical history - consumer guru

Consumer journalist Wendy Knowler says it's always safer to overshare when it comes to life insurance coverage.

The saga involving insurer Momentum has many South Africans thinking twice about their current life insurance policies.

The financial services provider declined to pay R2.4 million to the family of a man who died in a hijacking, saying that he failed to disclose his high blood sugar levels.

Read: Momentum explains why it refused to pay shooting victim's life insurance

Knowler suggests that applicants use their medical aid records to include an in-depth account of their medical history when applying for life insurance.

She adds that it is important to notify an insurer about any health-related or medical developments in order to adjust insurance cover rather than a rejected claim later on.

Also read: Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

No matter how insignificant you think it is, mention it.

Wendy Knowler, consumer journalist

Mention the medication you were prescribed at the time.

Wendy Knowler, consumer journalist

If you have to give them 80 pages, give them 80 pages. Overshare.

Wendy Knowler, consumer journalist

Go now. Rather let them adjust your cover now than have a situation where your loved ones have a claim rejected.

Wendy Knowler, consumer journalist

If you start smoking or take up sky-diving, you have to include it, because your premium has to go up.

Wendy Knowler, consumer journalist

Listen to the conversation on The Pippa Hudson Show:


This article first appeared on CapeTalk : Life insurance 101: Mention every detail of your medical history - consumer guru


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