What will an insurer do if it learns that an applicant misstated his or her age on

Question:

What will an insurer do if it learns that an applicant misstated his or her age on a life insurance application? Buster Brown knowingly tells the insurer his age is 28 when he is actually 38. What effect will this lie have on his insurance contract?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction to Risk Management and Insurance

ISBN: 978-0131394124

10th edition

Authors: Mark S. Dorfman, David Cather

See More Books

Question Posted: Dec 07, 2015 06:19 AM

See More Questions

An insurer issued a settlement check on a claim brought by an injured minor that was payable to Trudy Avants attorney for minor child Joseph Walton, mother Dolores Carpenter 11762 S. Harrells Ferry...
THE ETHICAL DIMENSION Is it ethical for an insurer to refuse to pay a claim under the terms of a policy that the insurer drafted? Discuss. WHAT IF THE FACTS WERE DIFFERENT? Suppose that Tennessee...
Riff Hospital recently treated an accident victim in the emergency room. Because the patient was unconscious when he arrived, Riff treated the patient without knowing whether he had insurance or, if...
In baseball, a players batting average is the proportion of times the player gets a hit out of his total number of times at bat. The distribution of batting averages in a recent season for Major...
Test the hypotheses H0: 2 . 100 H1: 2 > 100 Using the following results from the following random samples. a. s2 = 165; n = 25 b. s2 = 165; n = 29 c. s2 = 159; n = 25 d. s2 = 67; n = 38
The current through a 10-mH inductor is 6e-t / 2 A. Find the voltage and the power at t = 3 s.
According to Figure 1.2, the EU is a major customer of exports from Africa and the Middle East. What types of products do you think these areas produce for export, and why do you think the EU is...
Corning-Howell reported taxable income in 2011 of $120 million. At December 31, 2011, the reported amount of some assets and liabilities in the financial statements differed from their tax bases as...
An adult helping her child learn to ride a bike, applies a net force of 4.32 newtons to the child on the bike for 2.40 seconds. How much momentum does the child and his bike gain after being pushed...
1. How will you characterize Tupperwares distribution strategy in relation to the theoretical models? 2. What are the advantages and disadvantages of Tupperwares distribution model? 3. How do you...
Does the incontestable clause mean an insured always gets away with fraud against the insurer? Is the purpose of the incontestable clause to protect the insured from fraud? Does the incontestable...
Describe some of the differences between participating and nonparticipating life insurance. Which plan should a consumer purchase?
Preeti Telang, the partner in charge of a small accounting firm, has launched a kaizen costing program to reduce office support costs. She expects the program to reduce costs by at least 10%....
What are the two general types of distribution channel that companies can choose from based on desired exposure?
How does channel length factor into distribution channel design?
An organization of high school seniors assists patients at Lake Hospital. These student volunteers perform services that the hospital would not otherwise provide, such as wheeling patients in the...
Which of the following would normally be included as revenue of a not-for-profit hospital? a. Unrestricted interest income from an endowment fund. b. An unrestricted gift. c. Tuition received from an...
How does a products value density influence the design of its distribution strategy?
Solve each compound inequality. Graph the solution set, and write it using interval notation. x+1> 3 or 4x+1>5
A red card is illuminated by red light. What color will the card appear? What if its illuminated by blue light?
a. Describe the extended replacement cost endorsement that can be added to a Homeowners 3 policy. b. What is a guaranteed replacement cost policy?
A home buyer may obtain a mortgage loan to purchase a house. Explain briefly how the mortgage clause protects the insurable interest of the lending institution (mortgagee).
James and Megan Webb recently purchased a home for $300,000. The home is insured under an HO-3 policy for $250,000 with no endorsements attached. Megan collects antiques for a hobby. James has a...
The highest WACC is 11%, the baseline WACC is 7.4% and lowest WACCS is 2.8%. To derive a WACC that better accounts for extreme scenarios, you decide to assign the following probability weights: High-...
Give 2 examples of the ff: Statutory law Regulatory law Common law Include the title of each example and explain why you chose these examples ( 1 to 2 sentences ) . Note: Write your reference ( s )
The Adams family includes a financially well-informed couple, both aged 36, and two children aged 4 and 6. The family is financially sound but suffered badly during the tech meltdown in 2000. The...

What will an insurer do if it learns that an applicant misstated his or her age on

Question:

Step by Step Answer:

When an insured misstates herhis age on an application the insurer ha...View the full answer

Introduction to Risk Management and Insurance

Students also viewed these Corporate Finance questions