Question: In applying for life insurance Wells stated by mistake that

In applying for life insurance, Wells stated by mistake that he was twenty- three years old when he was actually twenty- four. After paying the premiums for thirty years, he died. The insurance company learned what his correct age was and agreed to return the premiums paid but refused to pay the full proceeds, claiming misrepresentation by Wells. May the insurance company refuse to pay the full proceeds?

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  • CreatedSeptember 15, 2015
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