Incontestability Clauses Are Invalid as They Are Not Fair to Insurers

question 39

True/False

Incontestability clauses are invalid as they are not fair to insurers.

---

Definitions:

Journal

A record where all of a company's financial transactions are initially documented in chronological order.

Posting Process

The act of transferring journal entries to their respective accounts in the ledger.

Journal Page Number

A reference number used in accounting to denote the specific page in a journal where transactions are recorded.

Account Number

A unique sequence of numbers assigned to a customer's account in a bank or financial institution, facilitating the management and identification of accounts.