If misstatement of age or gender occurs, what can the insurer do at the time of claim?

When a misstatement of age or gender occurs, the insurer has the option to adjust benefits based on the correct data. This means that the insurer will evaluate the claim using the accurate age or gender of the insured instead of the information that was initially provided.

Insurance premiums and benefits are often determined significantly by the age and gender of the insured, as these factors can influence the risk associated with the policy. Therefore, if the insurer discovers that the information provided was incorrect, rather than outright rejecting the claim or canceling the policy, it can adjust the claim payout to reflect what it would have been had the correct information been disclosed at the time of application.

This approach aligns with the principles of fairness and equity in insurance, ensuring that claims are paid based on accurate risk assessments, as well as recognizing that the insured party may still be eligible for benefits, though potentially at a different amount than originally calculated.