Virginia Code 51.1-511: Persons entitled to payment of insurance on employee’s death
Any amount of group life, accidental death, and dismemberment insurance in force on any employee at the date of his death shall be paid, upon the establishment of a valid claim therefor, to the beneficiary designated by the employee under the provisions of the Virginia Retirement System or other retirement system administered by the Board, unless the employee has designated and filed with the Board on a form prepared by the Board, a different beneficiary of his group life, accidental death, and dismemberment insurance. If no beneficiary has been designated by the employee, or if the death of the designated person occurs prior to the death of the member and another designation has not been made, the proceeds shall be paid to the persons surviving at the date of his death, in the same order of precedence as set forth in subsection A of § 51.1-162.
Terms Used In Virginia Code 51.1-511
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Board: means the Board of Trustees of the Virginia Retirement System. See Virginia Code 51.1-500
- Dismemberment: means a dismemberment covered under the group insurance coverage purchased by the Board. See Virginia Code 51.1-500
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Retirement System: means the Virginia Retirement System. See Virginia Code 51.1-500
Payment which otherwise would be made to the estate of an employee may be made in accordance with the provisions of § 64.2-601 or 64.2-602.
1960, c. 604, § 51-111.67:10; 1986, c. 474; 1990, c. 832; 2002, c. 313; 2010, c. 269.