38.2-3912 - Incontestability of policies. - Virginia Statutes

§ 38.2-3912. Incontestability of policies.

Every insurance policy or contract shall contain a provision that it shall beincontestable after it has been in force during the lifetime of the insuredfor two years from its date of issuance, except for nonpayment of thepolicy's assessments or premiums. In the case of life policies and at theoption of the insurer, provisions relating to benefits in the event ofdisability and provisions which grant additional insurance specificallyagainst death by accident or accidental means, may be excepted in theincontestability provision. This provision may be omitted if the time limiton the certain defense clause specified in § 38.2-3911 is included.

(1985, c. 400, § 38.1-549.13; 1986, c. 562; 1987, c. 520.)