State RegulationsVA specificDifficulty 1/5
Under Va. Code § 38.2-3305, after how long from the policy date may an individual life policy in Virginia no longer be contested for misstatements in the application, except for nonpayment of premium?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Va. Code § 38.2-3305 is Virginia's incontestability provision: after the policy has been in force for 2 years from its date of issue, the insurer can no longer contest the policy on grounds of misstatement in the application, the one carved-out ground being nonpayment of premium. The rule gives beneficiaries certainty that after two years a covered death will be paid without relitigating the application, while preserving the insurer's most basic remedy for premium defaults.
Why the other options are wrong
- A) 1 year is shorter than the statutory contestability period; the bar runs for 2 years.
- C) 3 years is the reinstatement window under Va. Code § 38.2-3311, not the incontestability period.
- D) 5 years overstates the contestable period; under Va. Code § 38.2-3305 it is 2 years.
Memory hook
Two years and the application is sealed — except if you stop paying.