Incontestability of certain policies
Applied in 2 court decisions — leading case 797 F. Supp. 1308 - Parkerson v. Federal Home Life Insurance (1992)
Most recently applied in 797 F. Supp. 1308 - Parkerson v. Federal Home Life Insurance (July 1992)
Code 1950, § 38-366; 1952, c. 317, § 38.1-438; 1962, c. 139; 1986, c. 562.
A. No life insurance policy shall be contestable after it has been in force during the lifetime of the insured for two years from its date, except for nonpayment of premiums.
B. Provisions relating to benefits in event of disability, and provisions granting additional insurance specifically against death by accident or accidental means may be exempted in an incontestability provision.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.