The time period (usually two years) at the beginning of an insurance policy during which an insurer can challenge the death claim based on material misrepresentations submitted at time of issue.
The period of time (generally two years) during which the life insurance company may challenge the validity of a life insurance contract. One area that may be contested is whether the applicant represented truthfully his or her health condition and history at the time of application.
the period in which an insurance contract can be canceled for cause by an insurer - typically two years; during this time an insurance company may investigate the information provided by the applicant on the policy.
The time period during which the insurer is not obligated to pay a claim on account of material misrepresentations discovered within the policy holder's original application. Typically, a policy contains a two year contestable period and is labeled "non contestable" once this timeframe has expired.
The two year period in which an insurance contract can be canceled for cause by an insurer
Usually a specific time frame, commonly two years, during which the insurer may deny coverage, void a contract or question the validity of a claim.
Within the first 2 years of an insurance policy, the insurance company has the right to investigate a death claim for fraud and misrepresentation. The contestability period allows the insurance company to deny claims that are fraudulent. All insurance companies will investigate death claims with the first 2 years. The burden of proof for denying a claim is on the insurance company.
Period of time, generally two years, during which an insurance company can declare a life insurance contract void because of misrepresentation or concealment by the insured in obtaining the policy. Once this period has elapsed, the company cannot cancel the policy or refuse to pay claims for any reason other than nonpayment of premiums.
The time period (usually two years) during which the insurer is not obligated to pay a claim, because of material misrepresentations found in the application. A policy becomes "incontestable" when the contestability period is over.