This is the 696th most frequent Italian word.
verità
Truth.
The word 'verità' in this sentence is used as a noun, meaning 'truth', referring to the concept of honesty and factuality.
La verità è sempre importante nella vita.
The truth is always important in life.
Here, 'verità' again is a noun meaning 'truth', used in the context of a statement's accuracy.
Dubito che abbia detto la verità riguardo all'incidente.
I doubt that they told the truth regarding the incident.
In this context, 'in verità' forms an adverbial phrase meaning 'in truth' or 'honestly', indicating a sincere admission.