1. Pringles applied for a life insurance policy wherein he designated Joy as his beneficiary.

He
concealed the fact that he was diagnosed with cardiomyopathy and has only 3 months to live.
When he surpassed the 3 month term given by his doctor, he wanted to substitute Hugo as his
designated beneficiary and told the latter that he will do so in the next few days. Unfortunately,
Pringles died. Joy is now claiming for the proceeds of the insurance policy while Hugo insists that
he is the one entitled, it being the will of Pringles to substitute him as the new designated
beneficiary. The insurer, however, raises the defense of concealment. Decide.

The insured shall have the right to change the beneficiary he designated in the policy, unless he has
expressly waived this right in said policy. Notwithstanding the foregoing, in the event the insured
does not change the beneficiary during his lifetime, the designation shall be deemed irrevocable.
(Sec. 11, RA 10607)

2. What is Disclosure Rule in SRC?

3.