A clause in any policy of life insurance providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict coverage, whether or not such restrictions or exclusions are excepted in such clause.
S.D. Codified Laws § 58-15-11
Exclusions and restrictions unaffected by incontestability clause
Applied in 1 court decision — leading case De Smet Farm Mutual Insurance Co. of South Dakota v. Busskohl (2013)
Most recently applied in De Smet Farm Mutual Insurance Co. of South Dakota v. Busskohl (July 2013)
Source: SL 1966, ch 111, ch 23, § 17.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.