Any States Like KY where Contestable Periods Transfer?

[jacobtn]

As we know, KY doesn't allow companies to impose new contestable periods if the policy being replaced has been in force longer than 2 years.

I was wondering if any other states have similar statutes? Couldn't find anything online. Thanks.

 

[HoosierLife]

As we know, KY doesn't allow companies to impose new contestable periods if the policy being replaced has been in force longer than 2 years. I was wondering if any other states have similar statutes? Couldn't find anything online. Thanks.

I thought there were a few more. Kansas maybe. I don't know though.

 

[tins]

I thought there were a few more. Kansas maybe. I don't know though.

Kansas does indeed transfer the contestable period.

 

[smokin goose]

As we know, KY doesn't allow companies to impose new contestable periods if the policy being replaced has been in force longer than 2 years. I was wondering if any other states have similar statutes? Couldn't find anything online. Thanks.

Make sure you read the law. If you replace a 10k with a 15k, 5k of the new policy is contestable.

It says something like the new policy cannot be anymore contestable than the one it is replacing. So if the existing policy has 1 year left of contestability, the new policy would pick up where the old one left off.

I also think it has to be the same type of policy???

I think this is how it is. Don't take my word though.

Yeah, I've heard Kansas has a similar law.