20-1220. Incontestability in annuities
If any statements, other than those relating to age, sex and identity are required
as a condition to issuing an annuity or pure endowment contract, other than a
reversionary, survivorship or group annuity, and subject to section 20-1222, there shall
be a provision that the contract shall be incontestable after it has been in force during
the lifetime of the person or of each of the persons as to whom such statements are
required, for a period of two years from its date of issue, except for nonpayment of
stipulated payments to the insurer. At the option of the insurer the contract may also
except any provisions relative to benefits in the event of disability and any provisions
which grant insurance specifically against death by accident or accidental means.
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