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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 38.2. Insurance |
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CHAPTER 31. Life Insurance |
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ARTICLE 1.1. Use of Retained Asset Accounts |
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SECTION 38.2-3117.3. Supplemental contract |
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If the insurer settles benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract. |