After the Expiration of the Incontestability Period of a Life

question 27

True/False

After the expiration of the incontestability period of a life insurance policy,the insurer must pay the face amount of the policy when the insured dies and cannot claim that in obtaining the policy,the insured had been guilty of misrepresentation,fraud,or any other conduct that would entitle it to avoid the contract of insurance.

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Definitions:

Majority Judgment

A decision-making process where the choice supported by the majority of members is selected.

Truth

The quality or state of being in accordance with fact or reality.

Social Pressure

The influence exerted by others in one's social group that encourages conformity to group norms and values.

Physical Reality

The nature of the world as it exists independently of human thoughts or beliefs, encompassing all physical phenomena and objects.