Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 70. Rules Governing Accelerated Benefits Provisions

14VAC5-70-50. Type of product.

Accelerated benefit riders and life insurance policies with accelerated benefit provisions are primarily mortality risks rather than morbidity risks. They are life insurance benefits subject to Chapter 31 (§ 38.2-3100 et seq.), Chapter 32 (§ 38.2-3200 et seq.), and Chapter 33 (§ 38.2-3300 et seq.) of Title 38.2 of the Code of Virginia.

Statutory Authority

§ 38.2-223 of the Code of Virginia.

Historical Notes

Derived from Regulation 44, Case No. INS920076, § 6, eff. June 1, 1992.

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