Void

Written by  //  June 24, 2011  //  Insurance Glossary: T-Z, Insurance Terms  //  Comments Off on Void

A policy or other contract that has no legal validity is described as void. When an insurance company voids a life insurance policy, it is usually due to the discovery of misrepresentation of material facts by the person insured. It is as though the voided policy was never in effect since all premiums paid are usually returned to the policyowner.

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