Can Insurance Claim Be Denied Because of A Failure To Disclose Medical Condition?

In order to get the benefits under the insurance policy, the insured enters into a contractual relationship with the insurance company which requires both parties to approach every single action under the contract in good faith. This particular concept encompasses the beginning of the entire relationship when the insured is going to take out the policy and also later on when the insurance company agrees to go ahead and pay out the coverage for a claim. There is a requirement in order to act in good faith and the insured needs to disclose any and every relevant fact to the insurance company as the former applies for said insurance coverage. This entails full and thorough disclosure of all existing and pre-existing medical conditions.

Risk assessment

The important thing that you need to understand is that the price of your premiums as well as the different rates and fees of the insurance company are thoroughly based on an assessment of your current health. It is determined by important factors such as your current age and your medical history. If you intentionally mislead the insurance company about your health, the insurer won’t possess the factually correct information in order to assess the risk properly. This means that the costs which have been instituted are inappropriate and not according to the actual situation and that’s a problem that you need to take into account. This could potentially cause your insurance policy to be effectively voided and this could strip you off from getting the compensation which could have been critical at the given moment.

For these reasons exactly, it is absolutely paramount for you not to leave anything out, especially in terms of your true and actual medical history when the insurance company asks you for these details. After all, the entire idea of your application for whatever insurance that you apply for is to have the benefits under it available when you actually need them. This is why it is very critical that you don’t risk it by failing to disclose information of the kind.

Void of the insurance policy

A lot of people mistakenly believe that failing to disclose a risky medical condition is going to benefit them in the long run as they would have had to pay higher premiums, if they disclosed that information. However, if that condition relapses and causes you to get ill or incapacitates you in a way, the insurance company may allegedly and within its rights to void your insurance policy. This means that you would have had paid all those premiums in vain and you won’t receive any compensation for you current condition on the grounds that you willingly omitted relevant and required information.

However, if you have done something like this and the insurance claim has been denied, try consulting a personal injury lawyer in Kitchener and see if there is any legal remedy that can be suggested.