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Virginia Administrative Code
Title 14. Insurance
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
11/5/2024

Chapter 70.
Rules Governing Accelerated Benefits Provisions
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Section 10
Purpose
Section 20
Compliance with the chapter
Section 30
Applicability and scope
Section 40
Definitions
Section 50
Type of product
Section 60
Assignee/beneficiary
Section 70
Criteria for payment; lump sum settlement option; restrictions on use of proceeds; accidental death benefit provision
Section 80
Required disclosure provision; descriptive title; tax consequences; solicitations and disclosures; effect of benefit payment
Section 90
Effective date of the accelerated benefits
Section 100
Waiver of premiums
Section 110
Discrimination
Section 120
Actuarial standards; financing options; effect on cash value; effect of outstanding policy loans
Section 130
Actuarial disclosure and reserves
Section 140
Filing requirement
Section 150
Severability

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