The failure of either party to an insurance contract, to reveal to the other, any material fact or circumstance which is known or should be known to either. The offended party may avoid the contract.
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Misstatement of Age
(1) Giving the wrong age for oneself on an application for Life and Health Insurance or for a beneficiary who is to receive benefits on a basis involving his life contingency. (2) A provision in most Life and Health policies setting forth the action to be taken if a misstatement of age is discovered after the policy is issued. This is one of the uniform provisions for Individual Health Insurance policies.