During which period can the insurer investigate application inaccuracies?

The insurer has the right to investigate application inaccuracies during the contestable period. This period typically lasts for the first two years after the policy is issued. During this time, the insurance company can review the application for any misrepresentations or omissions. If the insurer discovers any inaccuracies that could have influenced their decision to issue the policy, they may deny a claim or void the policy altogether.

This provision exists to protect insurers from the potential risks of fraud and to ensure that they can rely on the information provided by applicants when underwriting policies. The contestable period is a critical time for both the insurer and the policyholder, as it establishes the basis for the insurer's ability to challenge claims related to inaccurate information presented during the application process.

The other options—initial underwriting phase, coverage period, and claims period—do not offer the same level of opportunity for insurers to contest claims based on application inaccuracies as the contestable period does.