During the first two years a life insurance policy is in force, the insurer may contest the policy for reasons such as material misrepresentation, fraud, or material concealment in the application. However, the insurer cannot contest a policy for a misstatement of age unless the misstatement was made with the intent to deceive. Misstatement of age generally only results in a benefit adjustment rather than a policy contest.
[Reference: Virginia Life, Annuities, and Health Insurance Code, Section 38.2-3100 (Contestability Clause in Life Insurance Policies), , , ]
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