In Oregon, how long does the insurance company have to contest a claim after the contestability period?

In Oregon, the contestability period for life insurance policies is typically two years. This means that the insurer can investigate and contest a claim based on misrepresentation or fraud during this period. After the contestability period of two years has elapsed, the insurance company generally cannot contest the policy or deny a claim, except in cases of outright fraud.

This framework is designed to protect the policyholder and promote stability and certainty in the insurance contract after a reasonable duration. The two-year period strikes a balance between allowing insurers to investigate potential issues with claims while also providing policyholders with assurance that their policy will be honored after that time has passed.