1. Incorrect statements regarding the age of the person on whose life the insurance is taken, or any mistake therein, shall not result in the nullity of the insurance contract, unless the true age of the insured exceeds the maximum age specified under the insurance legislation. 2. If, as a result of incorrect statements or a mistake, the premium is less than what should be paid, the insurance amount shall be reduced in proportion to the ratio between the agreed premium and the premium that should have been paid on the basis of the true age. 3. If the agreed premium is greater than what should be paid on the basis of the true age of the person on whose life the insurance is taken, the insurer shall refund the excess paid and reduce the subsequent premiums to the level that corresponds to the true age.
Interpretation and application must be checked against the official text and current version.