Virginia Law

Code of Virginia

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Code of Virginia
Title 38.2. Insurance
Chapter 32. Standard Nonforfeiture Provisions for Life Insurance
5/30/2023

§ 38.2-3227. Inclusion of lapse of time considerations.

Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for a lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.

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.