Sentences with phrase «contestable clause»

Contestable clause: That section of an insurance contract which states conditions under which the policy may be contested or voided.

Contestable Clause All insurance companies have a period of two years from the policy issue date during which statements made on the application can be challenged for misstatement should death occur within that period.

The contestable clause is designed to protect all life insurance companies from fraud and misrepresentation and permits the insurance company..

Every ordinary life insurance policy (term, universal life and whole life) that is approved and issued today contains a «contestable clause» that is in effect for a full two year period from the policy date.

The contestable clause is designed to protect all life insurance companies from fraud and misrepresentation and permits the insurance company to investigate any and all death claims that are made within the first two policy years.

Not exact matches

Most insurance policy contracts contain the Contestable Period Clause and the Material Misrepresentation Clause with the remaining exclusions in some policies and not in others.

Life insurers then included clauses in their policies saying they could not contest claims except during the contestable period.

Posted in insurance, life insurance, suicide clause Tagged accidental death and dismemberment, Afghanistan, contestability clause, contestable, death benefit, disability, inusrance, life insurance, material misrepresentation, suicide, suicide clause 6 Responses