Posted on July 20, 2013July 20, 2013
The amount stated in a policy contract as payable upon the death of the person whose life is being insured (cesti que vie). See also Principal Sum.
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A provision in an insurance policy setting forth the conditions under which, or the period of time during which the insurer may contest or void the policy. After that time has lapsed, normally two years, the policy cannot be contested.