1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The first two years of a life insurance policy are called the contestible period. During these two years, if death occurs, the insurance company will likely review the life insurance application to make sure everything was answered in a forthright and correct manner. If the applicant lied about something on the application, or withheld some important facts, the life insurance may become void, although the premium is usually returned. Also, suicide during the first two years will void a life insurance payout.
    Answered on September 28, 2013
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