Bob,
I didn't explain myself very well.
Did I challenge you on something? Can't find it if I did.
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Bob,
I didn't explain myself very well.
where did I write that I could not afford to pay back the advance
http://www.answers.com/topic/non-contestability-clause
Non-Contestability [Incontestability] Clause
a provision in an insurance policy that precludes the insurer from disputing the validity of the policy on the basis of fraud or mistake after a specified period. If the insurer wishes to contest the policy on any grounds that would justify rescission of it, it must do so within the prescribed period, either by suing to cancel the policy or by asserting fraud or misrepresentation as a defense in an action instituted by the policyholder or beneficiary. 237 P. 2d 510, 512. The purpose of the clause is to require the insurer to investigate the accuracy of the information provided by the policyholder with reasonable promptness. It prevents the insurer from lulling the policyholder into a sense of security during the time when facts could best be ascertained, only to litigate them belatedly. Couch, Cyclopedia of Insurance Law §72.1 (3d ed. 1995).
Insurance 101, this applies to Life Contracts not Health Contracts, a Health Carrier has no time frame.
I believe both James and Sti are both right. Here is someting for Assurant's Specimen contract... And I quote.....
Incontestability
In the absence of fraud, all statements made on the enrollment form will be deemed
representations and not warranties. Except for nonpayment of premium, no statement made in
any enrollment form shall be used to void coverage after coverage has been in force for 2 years. In
the event of the Covered Person's death or incapacity, no statement made in any enrollment form
shall be used to void the coverage unless a copy of the enrollment form is furnished to the
Covered Person's beneficiary or personal representative. This provision does not preclude
defenses based upon provisions relating to eligibility.
Now, I have read in some places (http://www.answers.com/topic/incontestability-clause) that insurance carriers can either choose 2 or 3 years, so I imagine each one can do what they want.
The Fraud button is the key,
buddy in houston filled the application out for him at a strip club