An agreement to limit the contest period in which other than specifically excepted defenses on the policy can be raised by the insurer is a common feature in a modem life insurance contract. Such a clause gives the policy holder and the beneficiary a guaranty against expensive litigation after the lapse of the specified period while reserving to the insurer a reasonable opportunity to challenge the validity of the policy.
Walter L. Dean S.Ed.,
INSURANCE-APPLICATION OF "INCONTESTABLE" CLAUSE IN A LIFE INSURANCE POLICY TO DEFENSES ARISING OUT OF APPLICATION FOR REINSTATEMENT,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol49/iss7/6