When Ben applied for life insurance, he was asked on the application if he smoked or used tobacco products. Ben answered No. In reality, Ben smokes two packs of cigarettes a day.
The policy was issued at the preferred, nonsmoker rate. If Ben dies 6 months after the policy is issued, upon what grounds will the insurer be able to legally deny the claim?
A) warranty
B) misrepresentation
C) waiver
D) concealment
Question 2
Ted's insurance claim was denied by XYZ Insurance Company. When Ted inquired why the claim was denied, he was told to, Read the exclusion on page 5 of the policy. Ted read the exclusion.
In his opinion, the exclusion was poorly worded and vague. If a court of law agrees with Ted's assessment of the exclusion, Ted may still be able to have his claim paid by the insurer because insurance contracts are
A) personal contracts.
B) unilateral contracts.
C) aleatory contracts.
D) contracts of adhesion.
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Life Cycle Nutrition: Pregnancy through Infancy
Life Expectancy in Developing Countries
Derivative application problem