Term
| prevents the insurer from amending the policy without the knowledge or consent of the owner by changing its charter or bylaws |
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Definition
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Term
| the entire-contract clause protects the |
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Definition
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Term
| states that the insurer cannot contest the policy after it has been in force for two years during the insured's lifetime |
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Definition
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Term
| w/ the incontestable clause, after the policy has been in force for two years of the insured's lifetime, the insurer cannot later contest a death claim based on material misrepresentations, concealment, or fraud when the policy was |
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Definition
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Term
| purpose is to protect the beneficiary if the insurer tries to deny pmt of the claim years after the policy was first issued |
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Definition
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Term
| in certain situations where the fraud is so outrageous that pmt of the death claim would be against the public interest, the insurer can contest the claim after |
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Definition
| the contestable period runs out |
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Term
| the insurer can contest pmt after the contestable period if the beneficiary takes out a policy w/ the intent of |
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Definition
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Term
| the insurer can contest pmt after the contestable period if the applicant for insurance has someone else take a |
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Definition
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Term
| the insurer can contest pmt after the contestable period if an insurable interest does not exist at the |
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Definition
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