Misstatement Of Age

An insurer cannot terminate an insurance contract for a mistake or misrepresentation of the age the life insured — even if intentional. Instead, the insurer recalculates the policy benefits based on the correct age and the premiums paid.

  • e.g., death benefit multiplied by (premium charged)/(correct premium)
\begin{align} Correct Death Benefit = \frac{Premium Charged} {Correct Premium} \times Original Death Benefit \end{align}

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