Required provisions in accident and sickness policies

What this document is

Virginia Code s. 38.2-3503 - Required provisions in accident and sickness policies is a state statute published by Virginia General Assembly (law.lis.virginia.gov). It is one of the Virginia documents that insurance license exam questions are written from, including virginia life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Va. Code § 38.2-3503 (Entire Contract; Changes)

  “1. Provision 1: ENTIRE CONTRACT; CHANGES: This policy, including the endorsements and the attached papers, if any, constitutes the entire contract of insurance. No change in this policy shall be valid until approved by an executive officer of the Company and unless such approval is endorsed hereon...”

• Va. Code § 38.2-3503 (Reinstatement)

  “Lacking such approval, the policy will be reinstated on the forty-fifth day after the date of the conditional receipt unless the Company has previously written the Insured of its disapproval.”

• Va. Code § 38.2-3503 (Time Limit on Certain Defenses)

  “After two years from the date of this policy, only fraudulent misstatements in the application may be used to void the policy or deny any claim for loss incurred or disability (as defined in the policy) that starts after the two-year period.”

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