144(1)An applicant for insurance and a person whose life is to be insured shall each disclose to the insurer in the application, on a medical examination, if any, and in any written statements or answers furnished as evidence of insurability, every fact within his knowledge that is material to the insurance and is not so disclosed by the other.

144(2)Subject to section 145, a failure to disclose, or a misrepresentation of, such a fact renders the contract voidable by the insurer.