True or False:
1. If the insured makes any false statement in the application process, the insurance policy is voidable.
2. Once an insurance company issues a binder, the policy is irrevocable.
3. Although whole life insurance is more expensive than term, it is the best choice because it forces the customer to save money.
4. You are more likely to die before 65 than to become disabled before 65.
5. An annuity is simply a type of life insurance.