38.2-3106 - Suicide and execution not grounds of defense; exception. - Virginia Statutes

§ 38.2-3106. Suicide and execution not grounds of defense; exception.

A. Except as provided in subsection B of this section, the fact that aninsured committed suicide, or was executed under law, shall not be a defensein any action, motion or other proceeding on a life insurance policy that (i)was issued to any person residing in this Commonwealth at the time ofissuance, or (ii) is otherwise subject to the laws of this Commonwealth, torecover for the death of that person.

B. An express provision in the body of the policy limiting the liability ofthe insurer to an insured who, whether sane or insane, dies by his own actwithin two years from the date of the policy shall be valid but the insurershall be obligated to return or pay at the least the amount of the premiumpaid for the policy.

(Code 1950, § 38-365; 1952, c. 317, § 38.1-437; 1986, c. 562.)