Question

In Australia, under what circumstances can a policy be avoided based on incorrect statements made by the insured?

a.

If any statement made within three years preceding the date of policy issuance is found to be untrue.

b.

If the insured dies within three years of the policy issuance and any material statement made is found to be fraudulent.

c.

If the insured dies within three years of the policy issuance and any material statement made is found to be untrue.

d.

If the insured dies within three years of the policy issuance and any statement made within three years is found to be untrue.

Answer: (b).If the insured dies within three years of the policy issuance and any material statement made is found to be fraudulent. Explanation:In Australia, a policy can be avoided if the insured dies within three years of policy issuance and any material statement made is found to be fraudulently untrue.

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Q. In Australia, under what circumstances can a policy be avoided based on incorrect statements made by the insured?

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