Code of Virginia § 38.2-105.1. Modified guaranteed life insurance.
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/va/title-38-2/chapter-1/38-2-105-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
"Modified guaranteed life insurance" means any policy or contract of life insurance in which the benefits are guaranteed if held for specified periods and nonforfeiture values are based upon a market-value adjustment formula if held for shorter periods. The formula may or may not reflect the investment experience of any separate account which may be maintained by the insurer for the policy or contract as provided for in § 38.2-3113.1 .
1992, c. 210.