Definitions for "Contestable Period"
An initial period—generally the first two years that the policy is in force—during which the insurance company has the right to cancel a policy based on any false statements made by the insured.
The period of time after a certificate is issued during which a company can contest the certificate and deny a claim. This period is usually two years but is limited to one year in several states.
If the insured dies within a two year period from the date of issue or any lapse, the insurer may contest the validity of the policy due to material misrepresentation.