What life insurance policy provision prevents an insurer from disputing or denying a claim due to misstatements on the application after a certain period of time?

The correct choice is the provision known as Incontestability. This provision is a fundamental component of many life insurance policies, and it serves to provide protection for the policyholder. After a specified period, typically two years from the policy's issue date, the insurer is barred from contesting the validity of the policy based on statements made in the application. This means that once this period has passed, the company can no longer use any misstatements to deny claims, provided those misstatements were not fraudulent.

This provision encourages insurers to conduct thorough underwriting practices at the time of application since they will have limited time to investigate and challenge the accuracy of the information provided. For insured individuals, it offers peace of mind knowing that their beneficiaries will receive the death benefit without the threat of denial based on past inaccuracies, as long as no fraudulent statements were made.

The other choices do not encapsulate this specific protection against claims denial due to misstatements over time. Misstatement Waiver, for example, suggests a different kind of accommodation that isn't standard in policies. Guaranteed Insurability refers to the right to purchase additional coverage without providing evidence of insurability, while Invalidation Period implies a timeframe but does not specifically refer to the protections against misstatements