31A-22-405. Misstated age or gender.
(1) Subject to Subsection (2), if the age or gender of the person whose life is at risk is
misstated in an application for a policy of life insurance, and the error is not adjusted during the
person's lifetime, the amount payable under the policy is what the premium paid would have
purchased if the age or gender had been stated correctly.
(2) If the person whose life is at risk was, at the time the insurance was applied for,
beyond the maximum age limit designated by the insurer, the insurer shall refund at least the
amount of the premiums collected under the policy.
Amended by Chapter 308, 2002 General Session
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Last revised: Thursday, May 28, 2009