Maria’s policy was issued with an incorrect age. She was actually older than what was listed in the policy. Which of the following will the insurer most likely do if she had died 5 years after policy issue, but prior to this discovery?

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Maria’s policy was issued with an incorrect age. She was actually older than what was listed in the policy. Which of the following will the insurer most likely do if she had died 5 years after policy issue, but prior to this discovery?

A. The insurer would simply reduce the death benefit by the amount of the premium underpayment

B. The insurer would have to pay out the full face amount since the policy is now beyond the contestable period

C. The insurer would bill the beneficiary for the underpayment in premiums

D. The insurer would pay out a reduced benefit in proportion to the underpayment of premium

Answer: D.

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