COLOMBIA Law and Practice Contributed by: Rebeca Herrera Diaz, Rebeca Herrera Abogados
disclose their cancer history when applying for financial products; for those diagnosed as minors, this period is reduced to four years; and • mandating the creation of regulatory frameworks to monitor compliance and address potential cases of discrimination. This law is a challenge for life insurance policies, as it limits the health risk assessment of potential insureds. The risk selection process is also constrained, as denying coverage based on a cancer history that occurred outside the timeframes specified in the law would likely be considered illegal.
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