Code of Virginia - Title 38.2 Insurance - Chapter 33 Life Insurance Policies

38.2-3300 Requirements; exceptions
A. No individual life insurance policy shall be delivered or issued for delivery in this Commonwealth unless it contains in substance all of the requirements ...

38.2-3301 Ten-day right to examine policy
No individual life insurance policy shall be delivered or issued for delivery in this Commonwealth unless it has printed on it a notice stating in ...

38.2-3302 How premiums payable
Each individual life insurance policy shall have a provision that all premiums after the first premium shall be payable in advance. (Code 1950, § 38-371(1); ...

38.2-3303 Grace period
A. Each individual life insurance policy shall contain a provision that the insured is entitled to a grace period of not less than thirty-one days ...

38.2-3304 Policy constitutes entire contract; statements deemed representations
A. Each individual life insurance policy shall contain a provision that the policy, or the policy and the application for the policy if a copy ...

38.2-3305 Incontestability
A. Each individual life insurance policy shall contain a provision that the policy shall be incontestable after it has been in force during the lifetime ...

38.2-3306 Misstatement of age
Each individual life insurance policy shall contain a provision that if, at any time before final settlement under the policy, the age of the insured, ...

38.2-3307 Participation in surplus
A. Each participating individual life insurance policy shall contain a provision that the policy shall participate in the surplus of the insurer. Any policy containing ...

38.2-3308 Policy loans
A. Each individual life insurance policy shall contain a provision that after the policy has been in force three policy years the insurer shall at ...

38.2-3309 Nonforfeiture benefits and cash surrender values
A. Each individual life insurance policy shall contain a provision for nonforfeiture benefits. The provision shall specify the options to which the policyowner is entitled, ...

38.2-3310 Table of values and options
Each individual life insurance policy shall contain a table showing the loan values in figures, line by line. The table shall also show any options ...

38.2-3311 Reinstatement
Each individual life insurance policy shall have a provision that in the event of default in premium payments, if (i) the value of the policy ...

38.2-3312 Settlement
Each individual life insurance policy shall contain a provision that when a death claim arises under the policy, settlement shall be made upon receipt of ...

38.2-3313 Table of installments
If an individual life insurance policy provides that the proceeds may be payable in installments that are determinable prior to the maturity of the policy, ...

38.2-3314 Title
Each individual life insurance policy shall have a title on its face that shall briefly and accurately describe the nature and form of the policy. ...

38.2-3315 Variations for certain forms of policies; providing more favorable terms
A. Any of the requirements of §§ 38.2-3300 through 38.2-3314 not applicable to single premium, nonparticipating, term, variable, or flexible premium life insurance policies shall ...

38.2-3316 Provisions prohibited
No individual life insurance policy shall be delivered or issued for delivery in this Commonwealth if it contains any provision: 1. Limiting the time within ...

38.2-3317 Provisions required by other jurisdictions
Individual life insurance policies issued by any foreign or alien insurer for delivery in this Commonwealth may contain any provision that is prescribed by the ...

38.2-3318 Description unavailable
Repealed by Acts 1998, c. 154. ...

38.2-3318.1 Group life insurance requirements
Except as provided in § 38.2-3319.1, no policy of group life insurance shall be delivered in this Commonwealth unless it conforms to one of the ...

38.2-3319 Description unavailable
Repealed by Acts 1998, c. 154. ...

38.2-3319.1 Limits of group life insurance
Group life insurance offered to a resident of this Commonwealth under a group life insurance policy issued to a group other than one described in ...

38.2-3319.2 Review of records
The Commission may review the records of any insurer to determine that the insurer's policies have been issued in compliance with the requirements set forth ...

38.2-3320 Description unavailable
Repealed by Acts 1998, c. 154. ...

38.2-3320.1 Policies issued outside of the Commonwealth of Virginia
A group life insurance policy issued outside of this Commonwealth, providing coverage to residents of this Commonwealth, that does not qualify under § 38.2-3318.1 or ...

38.2-3321 Description unavailable
Repealed by Acts 1998, c. 154. ...

38.2-3321.1 Requirements for those marketing group life insurance
Insurance marketed to certificate holders of a group that does not qualify pursuant to § 38.2-3318.1 must be marketed by a person holding a valid ...

38.2-3322 Description unavailable
Repealed by Acts 1998, c. 154. ...

38.2-3322.1 Regulations
The Commission may issue regulations to establish standards for group life insurance pursuant to the authority provided in § 38.2-223. (1998, c. 154.) ...

38.2-3322.2 Lives covered
A group life insurance policy shall cover at least two persons, other than spouses or minor children, at the issue date and at each policy ...

38.2-3323 Group life insurance coverages of spouses and minor dependent children; dependent handicapped child...
A. Coverage under a group life insurance policy, except a policy issued pursuant to § 38.2-3318.1 B, may be extended to insure the spouse and ...

38.2-3324 Standard provisions required; exceptions
A. No group life insurance policy shall be delivered or issued for delivery in this Commonwealth unless it contains in substance the standard provisions prescribed ...

38.2-3325 Grace period
Each group life insurance policy shall contain a provision that the policyowner is entitled to a grace period of not less than thirty-one days for ...

38.2-3326 Incontestability
A. Each group life insurance policy shall contain a provision that the validity of the policy shall not be contested, except for nonpayment of premiums, ...

38.2-3327 Entire contract; statements deemed representations
A. Each group life insurance policy shall contain a provision that the policy and any application of the policyowner, and any individual applications of the ...

38.2-3328 Evidence of individual insurability
Each group life insurance policy shall contain a provision setting forth any conditions under which the insurer reserves the right to require a person eligible ...

38.2-3329 Misstatement of age
Each group life insurance policy shall contain a provision that an equitable adjustment of premiums, benefits, or both shall be made if the age of ...

38.2-3330 Payment of benefits
Each group life insurance policy shall contain a provision that any sum payable because of the death of the person insured shall be payable to ...

38.2-3331 Individual certificates
A. Each group life insurance policy shall contain a provision that the insurer will issue to the policyholder, for delivery to each person insured, an ...

38.2-3332 Right to individual policy upon termination of employment or membership
Each group life insurance policy shall contain a provision that if the insurance, or any portion of it, on a person covered under the policy, ...

38.2-3333 Right to individual policy upon termination of group policy or elimination of class of insured pers...
Each group life insurance policy shall contain a provision that if the group policy terminates or is amended so as to terminate the insurance of ...

38.2-3334 Death after termination of group insurance and before issuance of individual policy
Each group life insurance policy shall contain a provision that if a person insured under the group policy dies during the period within which he ...

38.2-3335 Additional persons becoming eligible
Each group life insurance policy shall contain a provision that any person who subsequently becomes a member of a group or class that is covered ...

38.2-3336 Provisions required by other jurisdictions
Group life insurance policies issued by any foreign or alien insurer for delivery in this Commonwealth may contain any provision that is prescribed by the ...

38.2-3337 Assignment
With mutual agreement among the insured, the policyholder, and the insurer, any person insured under a group life insurance policy may make an irrevocable assignment ...

38.2-3338 Provisions prohibited
No group life insurance policy shall be delivered or issued for delivery in this Commonwealth if it contains any provision: 1. Limiting the time within ...

38.2-3339 Exemption of group life insurance policies from legal process
No group life insurance policy, nor its proceeds, shall be liable to attachment, garnishment, or other process, or to be seized, taken, appropriated, or applied ...

38.2-3340 Definition of industrial life insurance
"Industrial life insurance" means life insurance provided by an individual insurance contract (i) under which premiums are payable monthly or more frequently, and (ii) with ...

38.2-3341 Standard provisions required
No industrial life insurance policy shall be delivered or issued for delivery in this Commonwealth, unless it contains in substance the provisions prescribed in this ...

38.2-3342 Ten-day right to examine policy
No industrial life insurance policy shall be delivered or issued for delivery in this Commonwealth unless it has printed on it a notice stating in ...

38.2-3343 Grace period
A. Each industrial life insurance policy shall contain a provision that the insured is entitled to a grace period of twenty-eight days within which the ...

38.2-3344 Policy and application to constitute entire contract; statements deemed representations
A. Each industrial life insurance policy shall contain a provision that the policy, or the policy and the application for the policy, if a copy ...

38.2-3345 Incontestability
Each industrial life insurance policy shall contain a provision that the policy shall be incontestable after it has been in force for two years from ...

38.2-3346 Misstatement of age
Each industrial life insurance policy shall contain a provision that if, before final settlement of the policy, the age of the insured or the age ...

38.2-3347 Nonforfeiture benefits and cash surrender values
Each industrial life insurance policy shall contain a provision for nonforfeiture benefits in accordance with the requirements of §§ 38.2-3202 and 38.2-3208, and a provision ...

38.2-3348 Reinstatement
Each industrial life insurance policy shall contain a provision that the policy, if not surrendered for its cash value or if the period of extended ...

38.2-3349 Table of nonforfeiture options
Each industrial life insurance policy shall contain a table showing the nonforfeiture options available under the policy each year upon default in the payment of ...

38.2-3350 Settlement
Each industrial life insurance policy shall contain a provision that when a death claim arises under the policy, settlement shall be made within two months ...

38.2-3351 Title
Each industrial life insurance policy shall have a title on its face that briefly and accurately describes the nature and form of the policy. (Code ...

38.2-3352 Provisions not required in certain policies
The provisions of this article do not apply to policies issued or granted in exercise of the nonforfeiture provisions of § 38.2-3347. (Code 1950, § ...

38.2-3353 Provisions required by other jurisdictions
Industrial life insurance policies issued by any foreign or alien insurer for delivery in this Commonwealth may contain any provision that is prescribed by the ...

38.2-3354 Prohibited provisions
No industrial life insurance policy shall be delivered or issued for delivery in this Commonwealth if it contains any of the following provisions: 1. Limiting ...