Thomas Valencia was the policyowner$-$insured of a $$500,000$ whole life insurance policy that contained a typical misstatement of age provision. The application listed Mr$.$ Valencia's age as $60.$ While processing the claim following Mr$.$ Valencia's death, the insurer discovered that Mr$.$ Valencia was actually $65$ when he purchased the policy. To account for the misstatement of Mr$.$ Valencia's age, the insurer most likely will

$$ increase the policy's face amount to the amount that the premiums paid would have purchased for a male insured age $65$

reduce the policy's face amount to the amount that the premiums paid would have purchased for a male insured age $65$

$$ pay the $$500,000$ death benefit

void the policy on the basis of the misstatement of Mr$.$ Valencla's age