§ 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 term insurance has not expired, may be reinstated within one year from the date of default in payment of premiums upon:
1. Payment of all overdue premiums and, at the insurer's option, interest on the overdue premiums at an annual rate not exceeding six percent; and
2. Presentation of evidence satisfactory to the insurer of the insurability of the insured.
(Code 1950, § 38-434(7); 1952, c. 317, § 38.1-416; 1986, c. 562.)
Sections: Previous 38.2-3340 38.2-3341 38.2-3342 38.2-3343 38.2-3344 38.2-3345 38.2-3346 38.2-3347 38.2-3348 38.2-3349 38.2-3350 38.2-3351 38.2-3352 38.2-3353 38.2-3354 NextLast modified: April 3, 2009