Question

Question 15

The incontestable clause allows an insurer to:
disallow a change of ownership throughout the Contestable period
disallow a change of beneficiary during the Contestable period
contest a claim at anytime if the cause of death was accidental
contest a claim during the Contestable Period
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Answer 1

The incontestable clause allows an insurer to contest a claim during the Contestable Period in life insurance policies.

Step-by-step explanation:

The incontestable clause allows an insurer to contest a claim during the Contestable Period. This clause typically applies to life insurance policies and provides the insurance company with a specific time period, usually two years from the date of policy issuance, during which they can investigate the application and contest any claims made under the policy. After the Contestable Period ends, the insurance company cannot contest a claim based on the information provided in the original application, except in cases of fraud.

Learn more about Incontestable clause in life insurance policies

Answer 2

The incontestable clause in an insurance policy allows the insurer to contest a claim during the Contestable Period.

Step-by-step explanation:

An incontestable clause is a provision in an insurance policy stating that, after a specific period (usually two years), the insurer cannot contest the validity of the policy based on misrepresentations in the application. This clause provides policyholders with greater certainty and protection.

The incontestable clause in an insurance policy allows the insurer to contest a claim during the Contestable Period. This period usually lasts for one to two years from the date the policy is issued, during which the insurer can investigate the application and circumstances surrounding the policy. If the insurer discovers any misrepresentations or material omissions during this period, they can contest the claim and potentially deny payment.