Non-Contestability Clause
Also found in: Legal.
Non-Contestability Clause
1. A clause in an
insurance contract giving the
insurance company a certain, limited period of time during which it may contest a
claim on the grounds of
fraud or something similar. A non-contestability clause protects a
policyholder from the
risk of non-payment of a claim.
2. In a
will, a clause forbidding
beneficiaries from contesting the will. A non-contestability clause states that any contest of the will results in the contester's
inheritance to other
beneficiaries.
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