Rob applied for a $1 million life insurance policy when he was 50 years old and died today at age 55. At the time he applied, Rob reported on his application that he was only 35 years old in order to pay a lower premium. The insurance company did not discover the lie at the time and, based on the results of Rob's physical exam, issued the policy. If Rob's wife (Patty) files a claim for the death benefit, which of the following statements is true? Patty will receive the full $1 million death benefit since the policy is now incontestable. Patty will receive nothing, since Rob lied about a material fact on his original application. Patty will receive a death benefit but it will be less than $1 million. Patty will receive only a refund of the premiums paid for the policy prior to Rob's death