State RegulationsVA specificDifficulty 2/5
When an individual life policy is delivered in Virginia, what does Va. Code § 38.2-3301 require the policy to carry so the policyowner knows about the right to examine it?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Va. Code § 38.2-3301 requires the free-look notice to appear on the front page of the policy, so the policyowner sees the right to examine and return the policy the moment she opens it. Placing the disclosure on the front page is deliberate: it makes the examination right conspicuous rather than buried in the policy conditions. Delivery without the required notice undercuts the free-look scheme the Virginia Bureau of Insurance enforces.
Why the other options are wrong
- A) The notice is not an optional rider requested at issue; the statute requires it as part of the policy itself.
- B) A producer affidavit is not what the statute prescribes; the required element is the front-page notice of the examination right.
- D) An anniversary reminder is not required; the disclosure obligation attaches to the policy at delivery under Va. Code § 38.2-3301.
Memory hook
Free look lives on the front page — the first thing the policyowner reads.