Code of Virginia - Title 38.2 Insurance - Section 38.2-232 Notice of lapse or pending lapse of certain life and accident and sickness insurance policie...

§ 38.2-232. Notice of lapse or pending lapse of certain life and accident and sickness insurance policie...

Every insurer, health services plan, or health care plan that issues a policy, contract, or plan of insurance or annuity as defined in §§ 38.2-102 through 38.2-109 shall provide the policy owner, contract owner, or plan owner with a written notice prior to the date that the policy, contract, or plan will lapse for failure to pay premiums due.

This section shall not apply (i) to policies, contracts, or plans of group insurance, (ii) where the insurer, health services plan, or health care plan, as a general business practice, provides its policy owners, contract owners, or plan owners with written notices of premiums due, or (iii) where the insurer, health services plan, or health care plan has furnished its policy owner, contract owner, or plan owner with written notice separate from that contained in the policy that the failure to pay premiums in a timely manner will result in a lapse of such policy, contract or plan.

(1991, c. 369.)

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Last modified: April 16, 2009