Sentences with phrase «denied during the contestability period»

But you should always disclose your mental health history, or else the death benefit can be denied during the contestability period.

Choosing a renewable or convertible life insurance policy may also protect you from the contestable period in life insurance, which allows payment of the death benefit to potentially be investigated and denied during the contestability period.

Not exact matches

If the company finds you lied about a health condition or lifestyle, it can raise your premium, cancel your policy or deny a beneficiary's claim to the death benefit, particularly during the two year contestability period.

Contestability Period: The time period during which the insurer is can deny a claim if it finds material misrepresentations were made in the applicPeriod: The time period during which the insurer is can deny a claim if it finds material misrepresentations were made in the applicperiod during which the insurer is can deny a claim if it finds material misrepresentations were made in the application.

Contestability Period: The time period during which the insurer is can deny a claim if it finds material misrepresentations were made in the applicPeriod: The time period during which the insurer is can deny a claim if it finds material misrepresentations were made in the applicperiod during which the insurer is can deny a claim if it finds material misrepresentations were made in the application.

The incontestability clause is broader and deals with the insurers ability to contest or deny a life insurance claim during the contestability period.

The incontestable clause allows the life insurance company to deny a claim during the contestability period.

However, after the two year contestability period, the insurance company loses the right to question or deny the policy and death claim even if they find out that the insured person lied during application.

Keep in mind that life insurance companies can still deny coverage in the event that there were fraudulent acts or information provided during the application process, even after the contestability period expires.

Every life insurance policy contains a two - year contestability period, during which the company can deny a life insurance claim if it can show a material misrepresentation of the facts on the application.

If the company finds you lied about a health condition or lifestyle, it can raise your premium, cancel your policy or deny a beneficiary's claim to the death benefit, particularly during the two year contestability period.