Are you updating your information as often as you should?

Insurance provider Momentum recently grabbed headlines when it refused to pay out a claim to Nathan Ganas’s widow following his death in a shooting, due to not disclosing an illness prior to taking out the policy. While the cause of death was unrelated to the illness, the company received backlash and eventually decided to pay out the R2.4 million claim. 

Edward Banda, director and Certified Financial Planner at Capital Wealth Counsel, talks to Classic Business Breakfast with Moneyweb about the ins and out of insurance claims and what leads insurance to reject paying out claims.

Source: Moneyweb – Link