A. A clause in any life insurance policy providing that the policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict coverage, whether or not such exclusions or restrictions are excepted in such clause.
B. The reinstatement of a life insurance policy, whether heretofore or hereafter issued in this state, shall be incontestable after the same period following reinstatement and with the same conditions and exceptions, as provided in the policy with respect to incontestability thereof.
History: Laws 1984, ch. 127, § 381.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 54; 44 Am. Jur. 2d Insurance, §§ 1155 to 1179.
What constitutes medical or surgical treatment, or the like, within exclusionary clause of accident policy or accidental-death feature of life policy, 56 A.L.R.5th 471.
46 C.J.S. Insurance § 996 et seq.
Structure New Mexico Statutes
Article 20 - Life Insurance and Annuity Contracts
Section 59A-20-1 - Scope of article.
Section 59A-20-2 - "Annuity", "industrial life insurance" defined.
Section 59A-20-3 - Standard provisions required.
Section 59A-20-4 - Grace period.
Section 59A-20-5 - Incontestability.
Section 59A-20-6 - Entire contract.
Section 59A-20-7 - Misstatement of age.
Section 59A-20-8 - Dividends, participating policies.
Section 59A-20-9 - Policy loans.
Section 59A-20-10 - Policy loan interest rates.
Section 59A-20-11 - Table of installments.
Section 59A-20-12 - Reinstatement.
Section 59A-20-14 - Payment of claims.
Section 59A-20-15 - Beneficiary, industrial policies.
Section 59A-20-16 - Incontestability; excluded or restricted coverage; after reinstatement.
Section 59A-20-17 - Standard provisions, annuity and pure endowment contracts.
Section 59A-20-18 - Annuities, grace period.
Section 59A-20-19 - Annuities, incontestability.
Section 59A-20-20 - Annuities, entire contract.
Section 59A-20-21 - Annuities, misstatement of age or sex.
Section 59A-20-22 - Annuities, dividends.
Section 59A-20-23 - Annuities, reinstatement.
Section 59A-20-24 - Standard provisions; reversionary annuities.
Section 59A-20-25 - Limitation of liability.
Section 59A-20-26 - Prohibited provisions.
Section 59A-20-27 - Provisions required by other jurisdictions.
Section 59A-20-28 - Special requirements as to participating policies.
Section 59A-20-29 - Prohibited policy plans.
Section 59A-20-30 - Variable contract law.
Section 59A-20-31 - Standard Nonforfeiture Law; life insurance.
Section 59A-20-33 - Standard nonforfeiture law; individual deferred annuities.