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Life Insurance - 'Life insurance lies' warning issued by Norwich Union - 07/01/2008

Life insurance policies across the UK are being compromised by holders lying about health details, Norwich Union has claimed.

Research from the life insurance provider shows that around one in 14 policyholders cover up premiums-boosting facts when applying for life insurance, such as a cigarette habit or a drink problem.

Norwich Union discovered the deception after writing to 5,000 of its life insurance customers, asking them to confess to any lies that they had told when they had taken out their policies.

Previous research from the life insurance firm had found that 15 per cent of customers do not tell the truth on their applications.

As a result of this research, Norwich Union says that it might now run a similar study on all two million of its policyholders.

Around 20 per cent of insurance applications are currently rejected by providers due to customer misinformation, the Daily Mail reports.

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