Statements made by an applicant on a life insurance application are considered to be what type of legal statement?

Statements made by an applicant on a life insurance application are considered representations. In the context of insurance, representations are statements that the applicant believes to be true to the best of their knowledge and are made to the insurer during the application process. They are not guaranteed to be accurate but are relied upon by the insurer to determine the risk associated with issuing the policy.

This distinction is crucial because warranties are promises that certain statements are true and can be enforced legally as such, while representations are generally more flexible and are treated as truthful unless proven otherwise. Meanwhile, affidavits are sworn statements made under oath, and declarations refer to the formal statements of fact included in a policy. Understanding that statements in an application are representations reinforces the idea that while they should be truthful, they are not absolute guarantees.