Question

after the incontestability period has passed, the insurer may not contest the policy except for :

• fraud
• misstatement of age
• suicide
• non payment of premiums

if the insured commits suicide within the policys suicide period, the insurer will typically:

• pay the full death benefit
• deny the claim permanently
• refund premiums paid
• reduce the face amount

Explanation:

For the first question: After the incontestability period, insurers can still contest policies for fraud, non-payment of premiums, and misstatement of age is typically adjusted rather than a full contest. Suicide is not an exception for contesting after this period, so it is the exception to the exception (the insurer may NOT contest for this after the period).
For the second question: When an insured commits suicide within the policy's suicide period, standard insurance practice is to refund the premiums paid, not pay the full benefit, deny permanently, or reduce the face amount.

Answer:

1. Suicide
2. Refund premiums paid