Meaning Contestable period
What does Contestable period mean? Here you find 4 meanings of the word Contestable period. You can also add a definition of Contestable period yourself
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Contestable periodA period of up to two years during which a life insurance company may deny payment of a claim because of suicide or a material misrepresentation on an application.
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Contestable periodA pre-established period (usual two years) within which the insurer may contest the validity of a life insurance policy. Contrast with incontestable clause.
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Contestable periodA period of time where the insurance company can rescind a policy if it was obtained through misrepresentation or omission of information, or other similar situations, or deny a claim if excluded by the policy.
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Contestable periodAn 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.
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| << Conditional receipt | Conversion privilege >> |
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