If the insured's age has been overstated at the time the policy was purchased, and the error is discovered prior to the death of the insured, the company will

Voiding the policy would imply that the insured intentionally misrepresented their age, which may not be the case. If the error was unintentional, the company would not void the policy but rather address the discrepancy by adjusting the terms rather than terminating the coverage.

The Incontestable clause applies after a certain period, often two years, and primarily protects the insurer from claims based on misstatements made during the application process. However, if an error regarding age is discovered before this period, the insurer is not prevented from adjusting the policy accordingly.

While the insurer may correct the premium amounts based on the accurate age of the insured, the typical action is not to reduce future premiums but to adjust the coverage level instead. The focus is on providing appropriate coverage rather than merely adjusting the premium payments.