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2008-12-15 15:19:29
2008-12-15 15:19:29

The Contestability Period in a life insurance policy is usually two years. You can find this by looking at the "Incontestable Clause" in your life insurance policy The Incontestable Clause states that after the life insurance policy is in force for two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.


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if life insurance policy passed the contestability period, benefits will be paid at insured's death.

If the insurance policy is older than two years of contestability period, then a benefit will be paid to the beneficiary.

Most life insurance policies have a two year contestability period. If death occurs by suicide within the first two years, the claim would not be valid and would not be paid. If the contestability period has expired, the claim should be paid as any other cause of death would.

The suicide clause is part of a 2 year period of contestability that all life insurance policies have in their contracts. This is to prevent fraud.

If you are talking about the contestability clause, it can be found towards the front of the policy. It is a 2year period.

Every life insurance company has a two year contestability clause. If death occurs by suicide in the first two years of the policy (or however many years are stated if different), the company can deny the claim.

You must complete a claim form & use Death Certificate as proof. Pay-out times vary but can be as fast as a few days. However, if the polcy is within the first 2 years A.K.A "Contestability Period" or "Suicide Exclusion Period", their may be an investigation by the Life Insurance Company to determine if the policy is eligible for a claim. IF you are a New York resident or work in New York would like more informaton on Life insurance please e-mail

A certificate teerm life insurance is a form of Lifeinsurance that provides coverage at a fixed rate of payments for a limited period of time. The term could be a term life insurance that you took out for a set period of time.

The Term life insurance is the kind of insurance protection that is set for a period of time.

Term life insurance is an insurance that is set for a specific time period, for example, one can obtain term life insurance for 30 years. Whole life insurance covers one from application to death.

Most life policies issued in the US contain a 2 year contestability period. Should death occur within that time frame, the insurance co. has the right to investigate the death and may refuse to pay if they discover [that] the insured person commited fraud at the time of contract. If an insured 's health diminishes after a life policy has been issued, and no sign of the new health problem was evident at the time of contract, then the insurance co. cannot cancel the contract, except for non payment of policy premiums as they come due. By the way, if a policy lapses at any time due to non payment of the premium, if reinstated, the 2 year contestability period starts all over again.

I think it is called cash value insurance

There may be a Free Look period in your life insurance policy The Free Look period acts like a money-back guarantee in that it allows you to return the life insurance policy to the insurance company within a set period of time from the day you receive the life insurance policy, in order to get a full refund of the premiums paid. Otherwise, if the free look period was say 30 days and you have had the policy for 45 days, you could request a cancellation of the policy and get a pro-rata return of premiums, subject to the terms and conditions of your life insurance policy. Make sure you read your life insurance policy and review the requirements and instructions on how to cancel the policy, or use the Free Look period.

A type of life insurance policy that provides coverage for a certain period of time,

Term life is insurance is only valid for the given period of time within the policy as whole life insurance coverage is for the entire duration of ones life.

The endowment point for life insurance is usually a fixed date or death. It is a period of maturity for policy payment.

Term life insurance does not have an FAQ - it is a type of life insurance. This life insurance is sold to cover a certain period of time. It does not have a cash savings component to it, and thus is usually quite a bit less expensive that other types of life insurance.

The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.

Term life insurance does not build up accumulated value and ends when the insurance policy period ends. Whole life insurance does build up accumulated value, has tax advantages, but costs more than Term Life insurance. You can determine which product better meets your insurance needs.

Most of the time the answer is yes. There is a two year contestability clause on life insurance policies. If the policy is in force past this period then the insurance company is not allowed to contest the policy no matter what the situation. Even in cases where the person outright lied to the insurance company and thereby committed fraud the company will pay the benefits without regard. I have had one case in my time as an agent whereby a suicide occurred before this two year period was up. What happens in this case is that the insurance company will return all premiums paid by the insured plus interest. The spouse did not expect even this and was not asking that the policy benefits be paid. She was familiar with the clause and was happy to receive anything from this policy. She did receive payment from other policies he had because they were beyond the two year period. I hope this answered your question.

Life insurance is typically obtained in order to provide monetary security for the family when an individual passes on. The most critical time period is the years parents spend raising their children. Once the kids go to college, the need for life insurance is not as imperative. Whole or term life insurance are the main types of life insurance available. By choosing term life insurance for a set number of years instead of whole life insurance, hundreds of dollars could be saved. The critical period would be covered, giving parents peace of mind.

Decreasing term life insurance usually purchased to cover a mortgage loan for whatever the loan period is. This type of coverage is not available by most life insurance companies.

Term life insurance is a type of life insurance that covers an insured for a specified period of time. The best example of this is flight insurance - a term policy that covers you only while during the plane trip. As a comparison, term life insurance is usually cheaper that whole life insurance as whole life builds cash value that you can borrow against, while term insurance does not provide this.

Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.

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