Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
contestability clause
Insurance. A policy provision setting forth when and under what conditions the insurer may contest a claim or void the policy based on a representation or omission made when the policy was issued. ( Contestability clauses usu. lapse after two years. - Also termed contestable clause. Cf. INCONTESTABILITY CLAUSE.
incontestability clause
An insurance-policy provision (esp. found in a life-insurance policy) that prevents the insurer, after a specified period (usu. one or two years), from disputing the policy's validity on the basis of fraud or mistake; a clause that bars all defenses except those reserved (usu. conditions and the payment of premiums). 0 Most states require that a life-insurance policy contain a clause making the policy incontestable after it has been in effect for a specified period, unless the insured does not pay premiums or violates policy conditions relating to military service. Some states also require similar provisions in accident and sickness policies. - Also termed noncontestability clause; incontestable clause; uncontestable clause. Cf. CONTESTABILITY CLAUSE.
noncontestability clause
See INCONTESTABILITY CLAUSE.