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4104 A life insurance applicant's concealment of existing policies totaling $2.9 million was material in view of the insurer's underwriting guidelines limiting coverage to a total of $3 million and therefore justified the insurer's rescission of the policy it issued to the applicant for $1 million; the insurer's discovery before issuing the policy that the applicant had concealed an existing policy with benefits of $500,000 did not result in a waiver, since the amount did not implicate the underwriting limit.CitationWEST COAST LIFE v WARD (Concealed Coverage) 132 CA4 181 [See: InsC 330, 331, 332, 334, 336; O'Riordan v Federal Kemper 36 C4 281, T/AT 8/05]
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