Muscat: The FSA emphasized that insurance companies can deny claims if a borrower fails to disclose known or medically diagnosed conditions or intentionally provides false information.
However, the authority provided a safeguard for borrowers: if a borrower has not disclosed a chronic illness, the insurance company remains obligated to repay the loan amount in cases of death, disability, or loss covered by the policy—provided that four years have passed since the policy was issued.
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