What starts the 2-year period during which an insurance company can contest information provided on an application?

The two-year contestability period for life insurance policies typically begins on the day the insurer dates the policy. This is crucial because it establishes the time frame during which the insurance company can review the information provided in the application and contest the policy if there are discrepancies or misrepresentations.

The importance of this timing lies in the assurance provided to policyholders that once the contestability period has elapsed, the insurer cannot dispute the validity of the policy based on the application information. This protects the insured from potential claim denials due to mistakes or omissions that may have occurred at the time of application after that two-year window has passed.

The other options are less applicable because they reference events that do not define the beginning of the contestability period. For example, the day the claim is filed does not trigger the contestability period, nor does the day the policy is signed unless that coincides with the date the insurer officially issues the policy. The policy being signed could involve a delay in the policy being dated by the insurer, which is the crucial event that starts the two-year period.