Contestable clause

{
  "id": "MLC-T-INS-000925",
  "term": "Contestable clause",
  "field": "Insurance and risk management",
  "definition": "A provision in a life insurance policy that allows the insurer to dispute the validity of the contract due to material misrepresentations or concealment of facts by the insured during the application process. This period typically lasts for two years from the policy's issue date. After this period, the policy becomes incontestable, and the insurer cannot deny a claim based on information provided in the original application.",
  "url": "https://mlchart.com/terminology/insurance/contestable-clause/"
}