John Dela Cross has a stable job as an accountant and is married with two children. To secure his family's future, he purchased a life insurance policy worth ten (10) million pesos with his wife and children as his beneficiaries. When he was accomplishing his insurance application form, he was asked whether he had any mental, psychological, or medical impairment or disabilities and he answered 'none'. His application was approved. Three months later while at work before the deadline of annual filing of tax return, John started to display odd and disruptive behavior. His speech became disorganized, had abnormal motor behavior, and seemed to be hallucinating as he appeared to talk to non-existent persons. He was pulled out of work and was sent to the hospital. He was diagnosed as having mild schizophrenia and John was prescribed medication but was still able to continue working. John did not inform his insurance policy provider of his diagnosis. Seven months later, John while at home one evening and wearing only a shirt and shorts, went out of his house barefoot. He walked outside of his subdivision and walked to cross highway. He was hit by a vehicle and died. The investigation report of the police was inconclusive, but it did state that suicide was a possible cause or due to possible mental illness. The bereaved family now made a claim on his life insurance policy. As head of the claims department of the insurance company, the matter was referred to you. Will you grant or deny the claim? Support your answer based on existing laws, rules, and/or jurisprudence.