Contestability Triggers

[Trapper99]

What is the name of your state? NH


Besides the obvious contestability triggers, such as anoymous tips, filiing a claim with first 2 years, etc.

What are typical methods that may cause Life Insurance company to contest a policy validity within the first 2 years?

 

[ErinGoBragh]

Lying on an application is a big one that comes to mind.

 

[Betty]

If you apply to several companies, particularly within a short period of time or at the same time, & one co. picks up an adverse hx (develops an adverse history) they will notify the MIB (Medical Information Bureau) of the hx by code & the MIB will let the other cos. know of the application & the code for what the co. picked up. If the hx is significant, the other cos. will/can contest their pol. within the 1st 2 years.