True or False: 1. If the insured makes any false statement in the application process, the insurance

Question:

True or False:
1. If the insured makes any false statement in the application process, the insurance policy is voidable.
2. Once an insurance company issues a binder, the policy is irrevocable.
3. Although whole life insurance is more expensive than term, it is the best choice because it forces the customer to save money.
4. You are more likely to die before 65 than to become disabled before 65.
5. An is simply a type of life insurance.

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...