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Misrepresentation
An act by the agent of making, issuing, circulating, or causing to be issued an estimate, an illustration, a circular, or a statement of any kind that does not represent the correct policy terms, dividends, or share of surplus or the name or title for any policy or class of policies that does not in fact reflect its true nature. A misrepresentation of fact by the applicant to the insurance company may cause the death benefit at the time of the insured's death to be challenged by the carrier, possibly resulting in no death benefit paid to beneficiaries.
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Misrepresentation