An insured purchased a life policy in 2010 and died in 2017. The insurance company discovers at that time that the insured had concealed information during the application process. What can they do?

Question

Selena Sims

Social Studies

26 March, 17:53

An insured purchased a life policy in 2010 and died in 2017. The insurance company discovers at that time that the insured had concealed information during the application process. What can they do?

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Answers (1)

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Stein · Answer 1

The correct answer is : They have to pay the death benefit

Explanation:

A life insurance purpose is to provide financial protection to surviving dependents after death. According to this, they have to pay the death benefit because the Insurance company didn't do the right research about the insured. It is essential for the company to analyze the whole information given in order to provide the service.