Code of Virginia (Last Updated:July 28, 2020) |
TITLE 38.2. Insurance |
CHAPTER 38. Cooperative Nonprofit Life Benefit Companies |
ARTICLE 2. Reserves, Policies and Benefits |
SECTION 38.2-3815. What benefits policies may provide |
Any company may provide for (i) stipulated premiums, (ii) death, annuity, endowment and disability benefits, and (iii) cash surrender and loan values to an amount not exceeding the reserve, or its equivalent, in paid-up or extended term insurance, based upon the mortality standards set forth in this chapter. Code 1950, § 38-483; 1952, c. 317, § 38.1-515; 1986, c. 562. |