When completing the declaration on a proposal form, the proposer is declaring that they?

When completing the declaration on a proposal form, the proposer is affirming that the information they have provided is true to the best of their knowledge and belief. This declaration is crucial in the insurance process because it establishes the foundation of the contract between the insurer and the insured. The insurer relies on this information to assess risk and decide on the terms of coverage. If the proposer provides false information or omits key details, it can lead to issues such as claims being denied or the policy being voided.

The principle of utmost good faith, also known as "uberrima fides," underlines this aspect of insurance. It emphasizes that both parties must act honestly and disclose all material facts pertinent to the insurance contract. Therefore, the proposer's verification of the truthfulness of their responses is a legal and ethical obligation that upholds the integrity of the insurance contract.