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2018 Wyoming Statutes
TITLE 26 - INSURANCE CODE
CHAPTER 16 - LIFE INSURANCE AND ANNUITY CONTRACTS
ARTICLE 5 - MISCELLANEOUS PROVISIONS
SECTION 26-16-501 - Incontestability and limitation of liability after reinstatement.
Universal Citation: WY Stat § 26-16-501 (2018)
26-16-501. Incontestability and limitation of liability after reinstatement.
(a) A reinstated life insurance policy or annuity contract may be contested because of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides for contestability after original issuance.
(b) If any life insurance policy or annuity contract is reinstated, the reinstated policy or contract may exclude or restrict liability to the same extent that the liability could have been or was excluded or restricted when the policy or contract was originally issued. The exclusion or restriction is effective from the date of reinstatement.
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