Question

in life insurance a warranty is a
statements made to the best of the applicants knowledge
true statements made
policy benefits
product verification
clear selection
when one party prepares the contract and the other party either accepts or rejects the contract is known as
unilateral
aleatory contract
adhesion contract
personal contract
when must insurable interest exist?
at the time of application
at the time of policy delivery
when policy ownership is transferred
when cash value is borrowed

Explanation:

1. For life insurance warranties: A warranty is a statement that is guaranteed to be true, unlike a representation which is made to the best of one's knowledge.
2. For contract type: An adhesion contract is drafted by one party, with the other only able to accept or reject it, common in insurance.
3. For insurable interest: In life insurance, insurable interest only needs to exist when the policy is applied for, not at claim time or other stages.

Answer:

1. True statements made
2. adhesion contract
3. At the time of application