When Applying for Life and Disability Insurance Protection on Her

question 6

True/False

When applying for life and disability insurance protection on her mortgage,Marabou neglected to disclose that she had been diagnosed with type 2 diabetes.As players in the commercial contractual area have a duty to look after their own interests,the insurance policy will be enforced should she become disabled or die as a result of the undisclosed pre-existing condition.

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Definitions:

Reserved Funds

money set aside for specific purposes or emergencies, ensuring financial stability or fulfilling certain conditions.

Cashier's Checks

A check issued by a bank, drawn on its own funds and signed by a cashier, guaranteeing payment to the payee named on the check.

Issuing Banks

Financial institutions that provide cardholder services for credit, debit, or other payment cards, including the issuance of cards and management of the accounts associated with them.

Drawer's Signature

The signature of the person who writes a check or draft, legally binding the drawer to the terms of the document.