Statements made by an insured on an accident and health insurance application are considered to be representations.
Insurance is a form of risk management, and provides protection from risks arising due to financial losses, health issues, accidents, and other unpredictable events.
An entity provides this insurance service, and is called the insurer. The person who buys this insurance policy is called the insured or policyholder. The payment made by the policyholder is the premium. If the specified loss occurs, the insurer will compensate the policyholder with a given amount of financial payment.
The statements that the policyholder on accident and health insurance applications are called representation. If false information is provided, the insurer can legally void the contract.
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