38.2-3304 - Policy constitutes entire contract; statements deemed representations.
§ 38.2-3304. Policy constitutes entire contract; statements deemedrepresentations.
A. Each individual life insurance policy shall contain a provision that thepolicy, or the policy and the application for the policy if a copy of theapplication is endorsed upon or attached to the policy when issued ordelivered, shall constitute the entire contract between the parties.
B. The provision shall also state that:
1. All statements made by the insured shall, in the absence of fraud, bedeemed representations and not warranties; and
2. No statement shall be used in defense of a claim under the policy unlessit is contained in a written application that is endorsed upon or attached tothe policy when issued or delivered.
C. As used in this section, "policy" shall include any riders, endorsementsor amendments.
(Code 1950, § 38-371(3); 1950, p. 179; 1952, c. 317, § 38.1-393; 1986, c.562; 1990, c. 223.)