How long does a life insurance policy in New York remain contestable?

In New York, a life insurance policy remains contestable for a period of two years from the date of issuance. This means that the insurance company has the right to investigate and potentially deny a claim based on misrepresentations or omissions made by the insured during the application process. The two-year contestability period serves to provide a balance between the insurer's need to mitigate risk and the policyholder's right to secure coverage without undue uncertainty.

After the two-year period has elapsed, the policy typically cannot be contested on the grounds of misrepresentation, except in cases of fraud. This ensures that policyholders have a level of protection and stability in their coverage after the initial period, promoting consumer confidence in the insurance system.