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Financial advisory
RES5Financial Advisory Services✓Under the Insurance Act, a LIFE policy generally cannot be avoided after issue for a misstatement UNLESS the misstatement was:
Section 25(5) of the Insurance Act protects life policies: after issue the insurer cannot avoid on the ground of a misstatement unless it was fraudulently made or was material to the risk. Immaterial, honest errors do not entitle the insurer to avoid.
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