Misstatement of Age

When an insurance company is given the wrong age for the insured person(s) it is referred to as misstatement of age.

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This is a concern for insurance companies because insurance product pricing relies heavily on age.

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Depending on the nature/circumstance of the misstatement the insurance company may choose to cancel the coverage when an incorrect age is given.

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More often however, there will be an adjustment the coverage or premiums to account for the correction of age.