The "Incontestable Clause" states that after the life insurance policy is in force for two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
So, you have life insurance coverage that continues after two years, even if you lied on the application to get coverage.
The insurance company cannot contest the payout of a claim due to misrepresentation or concealment of a material fact on the application for coverage.