LV= has published a report highlighting how an adviser’s support during the application stage can lead to fewer declined claims, alongside tips on tackling misrepresentation.
The provider's latest Fuel for Life report detailed three types of misrepresentation present in applications for a protection policy: innocent, careless and deliberate or reckless. According to LV='s Wealth and Wellbeing research, clients had misconceptions about the claims process and why claims could be denied, which LV= said could impact their ability to answer underwriting questions correctly, leading to deliberate misrepresentation. Meanwhile, when asked, 15% of customers would never feel comfortable disclosing their health conditions when answering protection questions. Anna ...
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