38.2-3301 - Ten-day right to examine policy. - Virginia Statutes

§ 38.2-3301. Ten-day right to examine policy.

No individual life insurance policy shall be delivered or issued for deliveryin this Commonwealth unless it has printed on it a notice stating insubstance that if, during a ten-day period from the date the policy isdelivered to the policyowner, the policy is surrendered to the insurer or itsagent with a written request for cancellation, the policy shall be void fromthe beginning and the insurer shall refund any premium paid for the policy.Nothing in this section shall prohibit an insurer from extending the right toexamine period to more than ten days if the period is specified in the policy.

(1977, c. 174, § 38.1-390.1; 1986, c. 562.)