A method of determining the cost of Life Insurance that takes into account the interest that might have been earned on premium money if it had been invested rather than put into premiums.
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BREACH OF WARRANTY
Whether or not it affects a claim on the policy the Insured must comply with all warranties in the policy. In the event of breach of warranty by the Insured, the Insurer is automatically, discharged from all liability from the date of the breach, but the Insurer remains liable for Insured losses occurring prior to that date.