SCI CLUS03 Practice Questions - SCI CLU® S CLUS03 DLI03 Life Insurance Law Exam

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How does a representation in a life insurance proposal generally differ from a warranty in classical insurance doctrine?

A representation induces the contract and need only be substantially true; a warranty is a promissory term that must be strictly complied with if so framed Representations are never relevant to avoidance Warranties are always informal oral comments with no legal effect Representations apply only to motor insurance

Correct Answer:

A representation induces the contract and need only be substantially true; a warranty is a promissory term that must be strictly complied with if so framed

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