State RegulationsNY specificDifficulty 1/5
A life insurance policy delivered in Buffalo becomes incontestable, during the insured's lifetime, after it has been in force for:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under N.Y. Ins. Law §3203(a)(3), a life policy is incontestable after it has been in force during the insured's lifetime for 2 years from its date of issue. After that point the insurer cannot contest the policy for misstatements in the application, subject only to express exceptions such as nonpayment of premium. Practically, misstatement-based defenses expire on a fixed clock measured from issue.
Why the other options are wrong
- A) 3 years is the reinstatement window after default under §3203(a)(10), not the incontestability period.
- B) 6 months relates to the war exclusion measures under §3203(c)(1); it has nothing to do with incontestability.
- D) 31 days is the life policy grace period under §3203(a)(1), not an incontestability period.
Memory hook
Two years alive and in force, then incontestable.