Where an Insured Party Intentionally Understates Their Age on a Life

question 37

Multiple Choice

Where an insured party intentionally understates their age on a life insurance policy,the insurer has the option to:

• A)reduce the premiums payable and repay the overpaid premiums with interest.
• B)cancel the policy.
• C)increase the sum insured proportionately.
• D)reduce the sum insured proportionately.

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Definitions:

Epigenetics

The study of how the expression of genes is influenced by factors other than changes in the DNA sequence, leading to changes in phenotype without altering the genotype.

Environmental Influences

External factors surrounding an individual that impact behaviors, development, and life outcomes.

Gene Expression

The process by which information from a gene is used in the synthesis of a functional gene product, often proteins, leading to the manifestation of genetic traits.

Biopsychosocial Approach

A comprehensive perspective in health and illness that considers biological, psychological, and social factors.