How long does the contestability period typically last?

The contestability period typically lasts for two years from the date the policy is issued. During this time, the insurance company has the right to review and investigate any claims. If the insurer finds that the insured misrepresented information or omitted important details in the application, they may deny a claim for death benefits. This period is designed to protect insurers from fraudulent claims based on false information provided during the application process.

After the two-year contestability period is over, the insurance company generally cannot contest the validity of the policy based on misrepresentations or omissions in the application, except in cases of fraud. Therefore, understanding this critical time frame is essential for both policyholders and their beneficiaries, as it dictates the insurer's ability to contest claims based on information provided during the application phase.