noncontestability clause

noncontestability clause definition - business

noncontestability clause

  1. A provision in a life insurance policy that prohibits the insurance company from disputing a claim after a specified period.
  2. A provision in a will that is intended to keep beneficiaries from contesting the will's provisions.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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