Need Help? Contact Us Now!

Call 1.877.227.4484

Live Chat
GET STARTED NOW
Life Settlement
Educational Information
Welcome Funds has compiled every term, phrase & definition related to life settlements. Have more questions? Call us toll-free at 1-877-227-4484 or complete our Quick Online Qualifier to determine your eligibility.

REQUEST A FREE GUIDE

By submitting this form, you are consenting to
receive marketing emails from Welcome Funds

DEFINITION OF MISSTATEMENT OF AGE

If the age of the insured is misstated and is not discovered until death of the Insured, the life insurance company has the contractual right to adjust the net death benefit to reflect the face amount that would have been paid with the corrected age and actual premiums due versus actual premiums paid. If this error is discovered prior to the death of the Insured, a recalculation of premiums will be done. This may cause more or less premiums to be due and/or a potential refund of excess premiums.

BACK TO GLOSSARY