State RegulationsNC specificDifficulty 1/5
Under G.S. 58-58-22(2), after what period from the date of issue may a North Carolina life insurer no longer contest the policy, except for nonpayment of premium?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under G.S. 58-58-22(2), a North Carolina life policy is incontestable, except for nonpayment of premium, after two years from the date of issue. The insured's statements about insurability also become unusable against the insured after two years during the insured's lifetime.
Why the other options are wrong
- A) One year is shorter than the statutory incontestability period.
- C) Three years is a commercial-textbook figure, not the North Carolina statutory period.
- D) Five years is North Carolina's life reinstatement window under G.S. 58-58-22(5), not the incontestability period.
Memory hook
Two years to contest, nonpayment excepted.