Virginia § 38.2-3330 Payment of benefits

Virginia Statutes

§ 38.2-3330 — Payment of benefits

Virginia § 38.2-3330

Title 38.2INSURANCE

Ch. 33LIFE INSURANCE POLICIES

Art. 2GROUP LIFE INSURANCE POLICIES

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Bluebook

Va. Code Ann. § 38.2-3330 (2026).

Text

Each group life insurance policy shall contain a provision that any sum payable because of the death of the person insured shall be payable to the beneficiary or beneficiaries designated by the person insured, subject to:

1.The provisions of the policy as to all or any part of such sum if there is no designated beneficiary living at the time of death of the person insured; and

2.Any right reserved by the insurer in the policy and set forth in the certificate to pay a part of the sum, not exceeding $2,000, to any person appearing to the insurer to be equitably entitled thereto because of having incurred funeral or other expenses incident to the death or last illness of the person insured.

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Each group life insurance policy shall contain a provision that any sum payable because of the death of the person insured shall be payable to the beneficiary or beneficiaries designated by the person insured, subject to:

1. The provisions of the policy as to all or any part of such sum if there is no designated beneficiary living at the time of death of the person insured; and

2. Any right reserved by the insurer in the policy and set forth in the certificate to pay a part of the sum, not exceeding $2,000, to any person appearing to the insurer to be equitably entitled thereto because of having incurred funeral or other expenses incident to the death or last illness of the person insured.