A more thorough explanation:

A contestability clause is a provision in an insurance policy that outlines the circumstances under which the insurer can challenge a claim or cancel the policy based on a misrepresentation or omission made when the policy was issued. This clause usually expires after two years.

For example, if someone applies for life insurance and fails to disclose a pre-existing medical condition, the insurer may use the contestability clause to deny a claim or cancel the policy if the person dies within the first two years of coverage.

Another example is if someone misrepresents their driving record when applying for car insurance, the insurer may use the contestability clause to cancel the policy or deny a claim if the person gets into an accident within the first two years of coverage.

These examples illustrate how the contestability clause protects insurers from fraudulent or inaccurate information provided by policyholders during the application process.