Question 3028 of 287 · Texas Life, Accident and Health Agent Exam
An insurer waives its right to rescind a policy for a known misrepresentation when
Exactly one answer is correct.
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Correct answer to question 3028
- C: it accepts premiums and continues the policy after learning of the misstatement
Explanation
Waiver is the voluntary giving up of a known right. Estoppel prevents the insurer from taking a position contrary to its earlier conduct on which the insured relied.
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