Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
A Florida individual life policy has been in force during the insured's lifetime for three years. On what basis may the insurer still contest it?
Answer and explanation
Answer: C. Section 627.455 makes the policy incontestable after two years in force during the insured's lifetime, except for nonpayment of premium. A misrepresentation must be raised within the contestable period, misstatement of age is handled by adjustment under section 627.456 rather than by contest, and an occupation change is not a contest ground.Source: Fla. Stat. § 627.455 — 627.455, Individual incontestability
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