Incontestability
Applied in 1 court decision — 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, § 38-371(3); 1950, p. 179; 1952, c. 317, § 38.1-394; 1986, c. 562.
A. Each individual life insurance policy shall contain a provision that the policy shall be incontestable after it has been in force during the lifetime of the insured for two years from its date of issue 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 excepted in the 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.