§ 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 to that extent, as approved by the Commission, be appropriately modified or not be incorporated in these policies.
B. Any individual life insurance policy that, in the opinion of the Commission, contains provisions more favorable to the policyholder than those required by §§ 38.2-3300 through 38.2-3314, may be delivered or issued for delivery in this Commonwealth after approval by the Commission.
(Code 1950, § 38-372; 1952, c. 317, § 38.1-404; 1976, c. 562; 1986, c. 562.)
Sections: Previous 38.2-3308 38.2-3309 38.2-3310 38.2-3311 38.2-3312 38.2-3313 38.2-3314 38.2-3315 38.2-3316 38.2-3317 38.2-3318 38.2-3318.1 38.2-3319 38.2-3319.1 38.2-3319.2 NextLast modified: April 16, 2009