What happens if the insured understates their age according to the misstatement of age provision?

When an insured understates their age, the misstatement of age provision typically adjusts the benefits of the insurance policy rather than voiding the policy or refunding premiums. If the insured's age is misrepresented, the face amount of the policy will be recalibrated based on what the premiums correspond to for the correct age. This means that the death benefit or coverage amount would be reduced to align with the premiums that were actually paid based on the insured's true age. The insurer will calculate the appropriate face amount that should have been issued had the correct age been provided. This approach ensures that the insurer is not disproportionately impacted by the misrepresentation and reflects a fair adjustment in benefits based on the risk associated with the insured's accurate age.