Question

Under the misstatement of age provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application?

Answer 1

The misstatement of age provision in a life insurance policy allows the insurance company to adjust the policy benefits if it is determined that the insured's age or gender was misstated on the application.

Step-by-step explanation:

The misstatement of age provision in a life insurance policy refers to the situation where the insured's age or gender was misstated on the policy application. If it is determined at the insured's death that their age or gender was misstated, the insurance company may adjust the policy benefits accordingly.

For example, if the insured misstated their age to be younger than they actually were, the insurance company may reduce the death benefit payout based on the correct age of the insured.

It's important to provide accurate information when applying for life insurance to ensure the policy reflects your actual age and gender.