Policy Riders, Provisions, Options, and Exclusions
An insured understated her age by 5 years on the application. At death, the insurer discovers the misstatement. How does the insurer handle the claim?
Answer and explanation
Answer: A. Misstatement of age provisions adjust the death benefit to what the premium would have purchased at the true age.Source: IIPRC Compact Policy Standards — § 3 > Q. Misstatement of Age
More policy riders, provisions, options, and exclusions questions
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