What defines a misstatement?
Answered by:
Cecil Goff
5 Questions answered
Answered on August 2nd, 2018
Most policies state that if there is a material change in the conditions that the policy was applied for, then it is the duty of the insured t report this. A change in gender is very significant. The insurance company would be ready to settle the contract based on death certificate. Could be cause for misrepresentation.
The protocol to report a change in the condition of the policy is simply a documented phone call or email to your underwriter. I would prefer the documentation of an email. Let the company and their attorneys determine the resolution.
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