The 3-year rule in life insurance—often referred to as the contestability or incontestability period—is a statutory and contractual provision that limits an insurance company's window to investigate or contest a policy based on innocent misstatements, omissions, or non-disclosure of medical history. Once a policy has remained continuously active for three years from its commencement or reinstatement date, the insurer generally loses the legal right to reject a death claim or void the contract due to application errors, provided outright fraud is not proven.
1 votes
Marked as accepted