There shall be a provision that, except for fraud in the procurement, the policy, exclusive of provisions relating to disability benefits or to additional benefits in the event of death by accident or accidental means, shall be incontestable, except for nonpayment of premiums, after it has been in force during the lifetime of the insured for a period of two (2) years from its date of issue. However, at its option, the insurer may omit from the provision the phrase “except for fraud in the procurement”.
Ark. Code Ann. § 23-81-105
Life insurance — Incontestability provision
Applied in 1 court decision — leading case Wood v. Valley Forge Life Insurance (2007)
Most recently applied in Wood v. Valley Forge Life Insurance (February 2007)
Acts 1959, No. 148, § 313; A.S.A. 1947, § 66-3304; Acts 2001, No. 1382, § 1.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.