Insurance Exam Prep

Ran Chen, EA, CFP®

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[Health Insurance] 19, Entire Contract and Time Limit on Certain Defenses

4/15/2026 • 3 min

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The Entire Contract provision consists of the policy, the application, and any attached riders, forming the complete agreement. - Verbal statements or promises made by an agent that are not in the written contract are unenforceable. - The Time Limit on Certain Defenses sets a two-year period for insurers to contest misstatements on an application. - After the two-year contestability period, a policy cannot be voided or a claim denied for misstatements, unless they were fraudulent. - A key exam trap involves scenarios where a claim arises after the two-year period; for non-fraudulent misstatements, the insurer must pay. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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