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Lcchang Posted 13 years ago
Vocabulary
suicide and contestability provisions
... Two-year suicide and contestability provisions apply (1 year in some states)...
Does this sentence mean that if the insured commits suicide then he won't get the money? And what about "contestability provisions"? Can anyone explain what that is? Thanks.
Does this sentence mean that if the insured commits suicide then he won't get the money? And what about "contestability provisions"? Can anyone explain what that is? Thanks.
Top answer
Lcchang "contestability provisions"? asp Lcchang Does this sentence mean that if the insured commits suicide then he won't get the money? If someone commits suicide, he is dead.
- Lcchang "contestability provisions"?
- asp Lcchang Does this sentence mean that if the insured commits suicide then he won't get the money?
- If someone commits suicide, he is dead.
- Dead people can't receive money, but his beneficiaries can.
- This clause is to prevent someone from taking out a large policy (eg to pay a million dollars to his children), and then committing suicide.
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Lcchang "contestability provisions"?See definition #2: http://www.investopedia.com/terms/n/noncontestabilityclause.asp
LcchangDoes this sentence mean that if the insured commits suicide then he won't get the money?I
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