The insurance carrier's right to contest insurability after a certain number of years of premium payments on the policy may be limited by an "incontestable clause."

Question

Quizplus · Accepted Answer

An incontestable clause is a provision in an insurance policy that limits the insurance carrier's right to contest insurability after a certain period of time has elapsed, usually two to three years, following the policy's effective date. After this period, the insurer cannot contest the validity of the policy, except in cases of non-payment of premiums or material misrepresentation by the insured at the time of application.

The Insurance Carrier's Right to Contest Insurability After a Certain