Incontestable Clause In Life Insurance

The Incontestable Clause in a Life Insurance policy very beneficial to those insured, rather than the insurance company. It forces insurance companies to pay some clients who have provided false information when creating their policy with the company. This clause states that, after the policy has been in effect for a specified period, it may not be contested. This period is usually two years, and when it is over the life insurance policy may not be voided by the insurer, even if false information was provided when the policy was created with the insured party.

Fast Facts

  • The insurance company can sometimes still recalculate payments according to more accurate health information.
  • In essence, this is a legal form of insurance fraud.

incontestable clause in life insurance - Financial Planners, Articles and Q&A

No results for "incontestable clause in life insurance"
Search Results for "contestable clause in life insurance"

Articles

Results 1-5 of 55 for "contestable clause in life insurance"

  • Equity Indexed Life Insurance

    Equity Indexed Universal Life Insurance, also referred to as EIUL, can be defined as permanent life insurance ...
    • Site: financialplannernetwork.com
    • 2 of 2 user(s) found this useful
  • Estate Planning

    Are you in need of professional advice regarding estate planning?...
    • Site: financialplannernetwork.com
  • How to Buy a Home

    The purchase of a house is probably the single largest financial investment that a person undertakes in their ...
    • Site: financialplannernetwork.com
    • 2 of 3 user(s) found this useful
  • Dual-Income Households

    Money is the number one problem couples fight about. It's often the spark that ignites bickering about ambitio...
    • Site: financialplannernetwork.com
    • Site: financialplannernetwork.com
LA-WS5:0.9.17.120126.12696+