Abc insurance company has accepted a life insurance application which contains unanswered questions. the company then makes the application part of the life contract. in this situation, the insurer has

Respuesta :

waived one of its legal rights

In this situation, the insurer has "waived one of its legal rights".


If an insurer acknowledges an application that contains unanswered inquiries and makes the application part of the existence get, the organization has deferred one of its lawful rights.  

An insurer’s reservation of rights is a vital legitimate advance, especially with regards to obligation protection. The safety net provider may give a guard to the safeguarded, apparently shielding the protected from the genuine liabilities that may result from a common suit. The obligation safety net provider is alarming the guaranteed respondent that protection may at last not cover the subsequent risk, or a segment of the liability.