The insurance company assumes the information provided on the application is accurate. Inaccurate information on an application is judged material if it would have affected the premium charged or the decision made by the insurance company to issue the policy. A discovery of material inaccuracies may cause the insurance company to adjust or even void the policy. Most information can only cause a policy adjustment if it is discovered before the end of the contestable period (usually two years). Misstatements of age or gender can cause an adjustment of the policy at any time, even after your death.