A clause in any annuity contract providing that the contract shall be incontestable after a specified period shall preclude only a contest of the validity of the contract and shall not preclude the assertion at any time of defenses based upon provisions in the contract which exclude or restrict coverage, whether or not the restrictions or exclusions are excepted in the clause.
(Code 1933, § 56-2604, enacted by Ga. L. 1960, p. 289, § 1.)
RESEARCH REFERENCES
ALR.
- Grounds for cancellation or rescission of annuity agreement, or for recovery back of property conveyed, or money paid, thereunder, 131 A.L.R. 424.