State RegulationsVA specificDifficulty 1/5
Under Va. Code § 38.2-3106, how long after policy issuance may a Virginia life policy's suicide exclusion apply?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Va. Code § 38.2-3106 limits the suicide exclusion in a Virginia life policy to the first 2 years after the policy is issued. If the insured dies by suicide after that window closes, the death benefit is payable as with any other covered death. The time limit reflects the provision's purpose as an underwriting safeguard against a contemplated near-term suicide — not a permanent escape from the insurer's obligations.
Why the other options are wrong
- A) 1 year is shorter than the statutory maximum; the exclusion may run up to 2 years.
- C) 3 years exceeds the ceiling of Va. Code § 38.2-3106; the exclusion cannot last longer than 2 years.
- D) 5 years overstates the exclusion window, which is capped at 2 years.
Memory hook
Suicide exclusion: 2 years max, then the benefit pays.