Your duty of disclosure
Before St Andrew's agrees to insure you, you have a duty of disclosure under law to tell them anything you know, or could reasonably be expected to know, which is relevant to their decision as to whether to accept your Application for insurance and on what terms. In providing such information, you have a duty to be honest and truthful.
You do not need to tell St Andrew's anything that:
- Reduces their risk;
- Is of common knowledge;
- They know or, as an insurer, should know; or
- They have indicated they do not want to know.
It is important that you understand you are providing information in this way for yourself as the person to be insured.
With respect to Accidental Injury Cover, Illness Cover and Involuntary Unemployment Cover under the policy if you fail to comply with your duty of disclosure St Andrew's may reduce or refuse to pay a claim or cancel your policy.
With respect to Life Cover under the policy, if you fail to comply with your duty of disclosure and St Andrew's would not have insured you if you had complied with your duty, St Andrew's can avoid the policy at any time within three years of the Commencement Date. This means that St Andrew's could refuse to pay a benefit.
If you provide or conceal information fraudulently, St Andrew's may at any time refuse to pay a benefit and treat the policy as never having existed, at any time.
Copyright 2013 St Andrew's