Code · Virginia · Title 38.2 · Chapter 33

Code of Virginia § 38.2-3309. Nonforfeiture benefits and cash surrender values.

73 words·~1 min read·/va/title-38-2/chapter-33/38-2-3309

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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, in accordance with the requirements of § 38.2-3202 .

B. Each individual life insurance policy shall have a provision for cash surrender values in accordance with the requirements of § 38.2-3203 .

Code 1950, § 38-371(7), (8); 1950, p. 180; 1952, c. 317, § 38.1-398; 1986, c. 562.