Navigating insurance applications can sometimes feel overwhelming, but our goal is to make sure you and your family get the exact protection you need. To help your application go smoothly and to make sure your policy performs as expected at claim time, please take a few minutes to read this guide on providing accurate information.

Your Duty of Disclosure

When you apply for life, health, income protection, trauma or other risk insurance through Fundmaster, the insurer decides whether to offer you cover, on what terms and at what price. It makes that decision based on the answers that you, and anyone else included in the application, give to the insurer’s questions. The insurer, not Fundmaster, provides your cover and makes these decisions. Our job is to help you answer the insurer’s questions fully and accurately.

The law calls this your duty of disclosure. In plain terms, it means taking reasonable care to answer every question the insurer asks fully, honestly and accurately, and not leaving out anything you are asked about. If a question isn’t clear, just ask us. You’re entitled to clear questions, and helping you answer them is exactly what we’re here for.

Why it matters

The insurer makes its decision based on the answers you give. Those answers decide whether you’re offered cover, what it costs, and what it covers. If an answer is wrong or incomplete, your policy may not protect you the way you expect. This often comes to light only when you make a claim, which is the worst time to find out.

Telling the insurer about your health

Your health is one of the most important things the insurer will ask about, both now and in the past. The application will ask you about things like:

Any health conditions you have now
Illnesses or health problems you’ve had before
Any treatment or medication you’re taking
Times you’ve been in hospital or had a procedure
Mental health conditions
Serious illnesses that run in your family
Any ACC injuries or events that have happened and are ongoing
Any GP or specialist visits during the time between applying and your policy being issued

Answer each question fully and accurately, and tell us about anything relevant to a question you’ve been asked. If you’re not sure whether something is relevant, ask us. That’s what we’re here for.

Providing your GP medical notes

We recommend providing a copy of your GP medical notes when you apply, even if you don’t believe you have any conditions or concerns. Many consultations, symptoms, investigations or diagnoses may not be remembered or fully understood, and medical terminology can be complex. Neither you nor your adviser is expected to interpret medical records the way a medical professional would. Providing your notes helps make sure your answers are complete and accurate, reduces the risk of an unintentional gap, and gives greater clarity for both you and your adviser.

How your information is handled

Your medical notes are collected so that you can give the insurer full and accurate answers to its questions, and they are provided to the relevant insurer to assess your application. We handle your information in line with the Privacy Act 2020 and our privacy statement, and we keep it secure. Providing your notes is your choice. If you’d prefer not to, or you have any questions about how your information is used, please talk to us first.

Other things insurers ask about

Insurers ask about more than your health. Always answer the exact questions on your application. These usually also include:

Whether you smoke or vape
Your job and your income
Your hobbies and sports, especially anything higher-risk
Other insurance you have, or have applied for

When you need to tell us

You need to give accurate answers from the time you start your application until your cover actually starts. If anything changes during that time, for example you develop a health problem, change jobs, or take up a new activity, please tell us straight away, even if you’ve already sent in your application.

What can happen if your answers aren’t accurate

If the information given isn’t full and accurate, the insurer can respond in different ways. What it does depends on the nature and seriousness of the inaccuracy, and on what it would have done had it known the full position:

Adjust your cover. For an honest mistake or a lack of reasonable care, the insurer may apply an exclusion, charge a higher premium (a loading), or reduce a claim payment to reflect what it would have done had it known.
Decline a claim. The insurer may refuse to pay a claim affected by the inaccurate information.
Cancel the policy. Where information was left out or given deliberately or recklessly, the insurer may cancel the policy, potentially back to the day it started, as if you never had it.

This is why taking reasonable care with your answers matters so much. It protects the cover you’re paying for.

Your responsibility

It’s up to you to give full and accurate answers about your health and anything else asked, for yourself and anyone else included in the application. Taking care with every question, especially the health questions, is the best way to make sure your cover is there when you need it most.

If you’re not sure, just ask

If you’re ever unsure how to answer a question, or whether something is relevant, ask us. It’s always better to check than to risk an answer that turns out to be incomplete. There are no silly questions, and we’d much rather help you get it right.

Your Duty of Disclosure