Bert purchased a life insurance policy 4 years ago.He inadvertently stated that he was 1 year younger than his actual age.If Bert dies today,how much will the insurance company pay?

Question

Quizplus · Accepted Answer

Bert stated that he was 1 year younger than his actual age which means that he paid premiums based on a lower age than his actual age. This may result in the insurance company paying less than the policy face value as the premiums paid may not have been sufficient to cover the actual risk.

Bert Purchased a Life Insurance Policy 4 Years Ago