State RegulationsVA specificDifficulty 3/5
A Virginia producer is explaining policy time limits to a client. Which pairing of provision and period is correct under Virginia law?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Virginia fixes these two clocks in different statutes: the suicide exclusion may run no longer than 2 years under Va. Code § 38.2-3106, while reinstatement of a policy lapsed for premium default is available within 3 years under Va. Code § 38.2-3311. The pairing is a classic exam trap because both numbers are small, adjacent, and easily swapped — candidates should anchor the shorter period to the exclusion and the longer one to the right to revive the policy.
Why the other options are wrong
- A) The periods are reversed: the suicide exclusion is capped at 2 years and reinstatement runs 3 years.
- C) 10 days is the free-look examination period under Va. Code § 38.2-3301; neither the suicide exclusion nor reinstatement is measured in days.
- D) The suicide exclusion is expressly time-limited to 2 years, and reinstatement extends to 3 years, not 6 months.
Memory hook
Short clock kills (suicide 2), long clock revives (reinstate 3).