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Incontestability clause

A Provision in a life Insurance policy that prevents the Insurer from revoking Coverage because of alleged misstatements by the Insured after a specified period, usually about two years. Of course, this is not a license to commit fraud, and the discovery of Fraud will lead the company to contest any claims and possibly pursue criminal Charge.

Related Terms: 17 Charge, Coverage, Claim, Cover, ECI, Fraud, FRA, Insurance, Insurance policy, Insured, Insurer, Life insurance, Leg, Policy, Provision, Sue, Test
Other Related Pages: Category: Insurance Starting With: I
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