Virginia Law

Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 32. Standard Nonforfeiture Provisions for Life Insurance
6/3/2023

§ 38.2-3225. Maturity date.

For the purpose of determining the benefits calculated under §§ 38.2-3223 and 38.2-3224 for annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election is permitted by the contract, but shall not be deemed to be later than the anniversary of the contract next following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.

1979, c. 437, § 38.1-470.1; 1986, c. 562.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.