An Incontestability Clause Prohibits an Insurer from Contesting Statements Made

question 8

True/False

An incontestability clause prohibits an insurer from contesting statements made in an insurance application until a specified time has elapsed.

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Definitions:

Product Adoption

The process by which a consumer or market accepts and begins to use a new product, service, or technology.

True Innovators

Individuals or organizations that pioneer new ideas, technologies, or methods, often leading to significant changes or advancements.

Early Adopters

Individuals who embrace new products or technologies before most other consumers, often influencing others’ adoption.

Context-Independent

Describes something that retains its relevance, meaning, or applicability regardless of the surrounding circumstances or environment.