No individual life insurance policy shall be delivered or issued for delivery in this Commonwealth unless it has printed on it a notice stating in substance that if, during a ten-day period from the date the policy is delivered to the policyowner, the policy is surrendered to the insurer or its agent with a written request for cancellation, the policy shall be void from the beginning and the insurer shall refund any premium paid for the policy. Nothing in this section shall prohibit an insurer from extending the right to examine period to more than ten days if the period is specified in the policy.
Va. Code Ann. § 38.2-3301
Ten-day right to examine policy
Applied in 2 court decisions — leading case Anderson v. Primerica Life Insurance (1996)
Most recently applied in 675 F. Supp. 2d 623 - Rogers v. Americo Financial Life & Annuity Insurance (December 2009)
1977, c. 174, § 38.1-390.1; 1986, c. 562.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.