Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
An insurer wishes to contest coverage on a group member after two years, relying on what the member said about eligibility. What does section 627.560 require?
Answer and explanation
Answer: C. Section 627.560 provides that statements made by an insured person about eligibility may not be used to contest validity after the coverage has been in force for two years during that person's lifetime unless contained in a written instrument signed by that person. Eligibility statements therefore do not create an open-ended contest right.Source: Fla. Stat. § 627.560 — 627.560, Statements by an insured person
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