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Define contestable claim
Please consult your own professional for advice specific to your circumstances.
The most important thing to remember is to be sure that you planet hollywood florida vouchers fully understand the terms of your coverage before you purchase a life insurance policy.Tell a friend about us, add a link to this page, or visit the webmaster's page for free fun content.(kn-tst, kntst) contested, contesting, contests.This means your beneficiary will usually receive the coverage amount as long as the coverage was in trump taj mahal military discount code force.ThesaurusAntonymsRelated WordsSynonyms Legend: Switch to new thesaurus Adj.A contestability clause is an insurance policy provision.The length of an investigation varies depending on the circumstances, Cornman says. .The two-year contestability period begins on the issue date of your coverage, and it protects insurance companies from financial losses due to fraudulent claims.Life insurance policies generally include a clause saying they wont pay out if the insured person dies from suicide within the first one or two years of the policy.
The clause sets out the conditions under which an insurer may contest a claim.
» compare: NerdWallets life insurance comparison tool, why the contestability period exists, people occasionally lie on life insurance applications to get better prices or policies they wouldnt otherwise qualify for.
Related to contestable: Contestable market (kntst).
To call into question and take an active stand against; dispute or challenge: contest a will.
The provision states that if beneficiaries try to contest the will, their potential inheritances will be effectively redistributed to other beneficiaries.
Contest implies that theres a winner and a loser, and nobody wants to be on the wrong end when lottery result raffle it comes to financial security.
A struggle for superiority or victory between rivals: England's contest with Spain for domination of the seas.An examiner may consider investigating a claim if theres evidence to suggest an insureds application for coverage may have included a material misrepresentation.What happens if an insurer disputes a claim.If there is an investigation that vindicates the beneficiaries, the payment will include interest to cover any delay it caused.It is also known as contestable clause.Sports, to defend against (a shot as in basketball.After the contestability period ends, life insurance coverage is usually considered incontestable.The manner of death could trigger an investigation.Being honest pays, remember, as long as youre honest with the insurance company when you apply for coverage, you can trust your beneficiaries will get the life insurance payout, even if you die the day after the policy goes into effect.Breaking down 'Non-Contestability Clause'.Contestable - capable of being contested questionable - subject to question; "questionable motives "a questionable reputation "a fire of questionable origin" incontestable, incontestible - incapable of being contested or disputed Want to thank TFD for its existence?