(Credit: RAGMA IMAGES/ Shutterstock.) Incontestability Provision Bars NY Life Insurance from Seeking Declaratory Judgment for Lack of Capacity
The nine-judge panel unanimously determined that the incontestability clause does not bar an insurer obtaining a declaratory judgment if the policy was obtained by fraud or if the beneficiary lacks an insurable interest in the life of the insured.
May 24, 2023 at 10:22 AM
4 minute read
The incontestability provision bars an insurer from seeking a declaratory judgment that a policy is void if the insured lacked capacity to enter into a contract at the time it was made, the Supreme Court of the state of Washington held last week.
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