(a) The group policy shall contain a provision that the validity of the policy shall not be contested, except for fraud in the procurement or nonpayment of premiums after it has been in force for two (2) years from its date of issue, and that no statement made by any person insured under the policy relating to the insured's insurability shall be used in contesting the validity of the insurance with respect to which the statement was made after the insurance has been in force prior to the contest for a period of two (2) years during the person's lifetime unless it is contained in a written instrument signed by the insured. However, at its option, the insurer may omit from the provision the phrase “except for fraud in the procurement”.
(b) However, no provision shall preclude the assertion at any time of defenses based upon provisions in the policy that relate to eligibility for coverage.