§ 38.2-3340 Definition of industrial life insurance.
§ 38.2-3341 Standard provisions required.
§ 38.2-3342 Ten-day right to examine policy.
§ 38.2-3343 Grace period.
§ 38.2-3344 Policy and application to constitute entire contract; statements deemed representations.
§ 38.2-3345 Incontestability.
§ 38.2-3346 Misstatement of age.
§ 38.2-3347 Nonforfeiture benefits and cash surrender values.
§ 38.2-3348 Reinstatement.
§ 38.2-3349 Table of nonforfeiture options.
§ 38.2-3350 Settlement.
§ 38.2-3351 Title.
§ 38.2-3352 Provisions not required in certain policies.
§ 38.2-3353 Provisions required by other jurisdictions.
§ 38.2-3354 Prohibited provisions.
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Terms Used In Virginia Code > Title 38.2 > Chapter 33 > Article 3 - Industrial Life Insurance Policies.

  • Commission: means the State Corporation Commission. See Virginia Code 38.2-100
  • Contract: A legal written agreement that becomes binding when signed.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fraud: Intentional deception resulting in injury to another.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • insurance policies: shall include contracts of fidelity, indemnity, guaranty and suretyship. See Virginia Code 38.2-100
  • Insurer: means an insurance company. See Virginia Code 38.2-100
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Life insurance: includes policies that also provide (i) endowment benefits; (ii) additional benefits incidental to a loss in the event of death, dismemberment, or loss by accident or accidental means; (iii) additional benefits to safeguard the contract from lapse or to provide a special surrender value, a special benefit or an annuity, in the event of total and permanent disability of the insured; and (iv) optional modes of settlement of proceeds. See Virginia Code 38.2-102
  • Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100