A life policy is usually contestable due to material misrepresentation on the application for a period of?

A life insurance policy is typically contestable due to material misrepresentation on the application for a period of 2 years. This means that if the insurer discovers that the insured provided false information or failed to disclose important details during the application process, they can challenge the validity of the policy and potentially deny a claim if it occurs within this time frame.

After this 2-year period, the policy generally becomes incontestable, meaning the insurer cannot deny claims based on misrepresentation, except in cases of outright fraud. This policy structure is designed to protect consumers by allowing them a reasonable period during which the insurance company can ensure that the information used to issue the policy was accurate and reliable.