If an Insured Falsely Claims to Be a Nonsmoker to Get

question 66

True/False

If an insured falsely claims to be a nonsmoker to get life insurance at a lower premium,the insurance company could deny a request for payment of the death benefit.

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Definitions:

Written Commitment

A documented pledge or promise to engage in or refrain from a specified action.

Debtor

An individual or entity that owes money to another entity, often a financial institution or lender.

Restraint Of Trade

Legal contracts or business practices that limit competition or restrict the freedom to operate in a market.

Unreasonable

Not based on or acting according to reason or sound judgement; exceeding the bounds of acceptability or fairness.