20-1220. Incontestability in annuities
If any statements, other than those relating to age, sex and identity are required as a condition to issuing an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, and subject to section 20-1222, there shall be a provision that the contract shall be incontestable after it has been in force during the lifetime of the person or of each of the persons as to whom such statements are required, for a period of two years from its date of issue, except for nonpayment of stipulated payments to the insurer. At the option of the insurer the contract may also except any provisions relative to benefits in the event of disability and any provisions which grant insurance specifically against death by accident or accidental means.
Section: Previous 20-1213 20-1214 20-1215 20-1216 20-1217 20-1218 20-1219 20-1220 20-1221 20-1222 20-1223 20-1224 20-1225 20-1226 20-1227 NextLast modified: October 13, 2016