What must the insurer provide during the contestability period?

During the contestability period, which typically lasts for the first two years after the policy's issuance, the insurer has the right to investigate and examine the validity of the policyholder's claims. This is crucial because the insurer needs to ensure that the information provided by the policyholder during the application process is accurate and complete. If the insurer finds discrepancies or misinformation, they may contest claims or even void the policy.

Proof of the policyholder's insurability refers to the documentation or evidence that confirms the individual is eligible for coverage based on their health status and risk factors. This is particularly important during the contestability period, as any claims made will be closely scrutinized to confirm that the coverage was appropriate based on the original application information. This focus on ensuring insurability is key for both parties; it protects the insurer from fraud while providing a level of assurance that the policyholder's circumstances have not materially changed since the policy was issued.