{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3100.3.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3100.3.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3100.3.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3100.3.html"}],"law_id":73524,"edition_id":1,"section_id":73524,"structure_id":13293,"section_number":"38.2-3100.3","catch_line":"Requirements of life insurance or annuity contracts used to fund preneed funeral contracts","history":"2009, c. 653; 2022, cc. 18, 641.","full_text":"A\n\nFor purposes of this section, “preneed funeral contract” means any agreement where payment is made by the insured prior to the receipt of services or supplies contracted for, which evidences arrangements prior to death for (i) the providing of funeral services or (ii) the sale of funeral supplies.B\n\nEach individual and group life insurance policy issued or issued for delivery in Virginia, each individual and group annuity contract issued or issued for delivery in Virginia, and each certificate issued in connection with a group life insurance policy or group annuity contract issued or issued for delivery in Virginia shall include a provision specifying the means by which face amount adjustments will be made and benefits payable upon death will be adjusted when such a policy or contract will be used to fund a preneed funeral contract.C\n\nEach insurer proposing to issue individual or group life insurance policies or individual or group annuity contracts in Virginia for purposes of funding preneed funeral contracts shall clearly disclose the intended purpose and market for such policies and contracts when submitting the forms with the Commission for approval, in accordance with § 38.2-316.","order_by":null,"text":{"0":{"id":264518,"text":"For purposes of this section, “preneed funeral contract” means any agreement where payment is made by the insured prior to the receipt of services or supplies contracted for, which evidences arrangements prior to death for (i) the providing of funeral services or (ii) the sale of funeral supplies.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":264519,"text":"Each individual and group life insurance policy issued or issued for delivery in Virginia, each individual and group annuity contract issued or issued for delivery in Virginia, and each certificate issued in connection with a group life insurance policy or group annuity contract issued or issued for delivery in Virginia shall include a provision specifying the means by which face amount adjustments will be made and benefits payable upon death will be adjusted when such a policy or contract will be used to fund a preneed funeral contract.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":264520,"text":"Each insurer proposing to issue individual or group life insurance policies or individual or group annuity contracts in Virginia for purposes of funding preneed funeral contracts shall clearly disclose the intended purpose and market for such policies and contracts when submitting the forms with the Commission for approval, in accordance with § 38.2-316.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13293,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":13292,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 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contracts","url":"\/38.2-3100.3\/","token":"38.2\/31\/1\/38.2-3100.3","metadata":false},{"id":81650,"structure_id":13293,"section_number":"38.2-3101","catch_line":"Legal reserve insurers","url":"\/38.2-3101\/","token":"38.2\/31\/1\/38.2-3101","metadata":false},{"id":86718,"structure_id":13293,"section_number":"38.2-3102","catch_line":"Domestic insurers prohibited from insuring lives and persons of residents of \"reciprocal states.\"","url":"\/38.2-3102\/","token":"38.2\/31\/1\/38.2-3102","metadata":false},{"id":79156,"structure_id":13293,"section_number":"38.2-3103","catch_line":"Fraudulent procurement of policy; penalty","url":"\/38.2-3103\/","token":"38.2\/31\/1\/38.2-3103","metadata":false},{"id":67546,"structure_id":13293,"section_number":"38.2-3104","catch_line":"No policy to be issued purporting to take effect more than six months before application made; conversion 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agreements","url":"\/38.2-3100.2\/","token":"38.2\/31\/1\/38.2-3100.2","metadata":false},"next_section":{"id":81650,"structure_id":13293,"section_number":"38.2-3101","catch_line":"Legal reserve insurers","url":"\/38.2-3101\/","token":"38.2\/31\/1\/38.2-3101","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3100.3\/","history_text":"

This law was first created in 2009. The record of its establishment is cataloged in chapter 653<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2022, chapters 18<\/a> and 641<\/a>.<\/p>","references":false,"refers_to":[{"id":60466,"section_number":"38.2-316","catch_line":"Policy forms to be filed with Commission; notice of approval or disapproval; exceptions","order_by":null,"url":"\/38.2-316\/"}],"permalink":{"id":214347,"object_type":"law","relational_id":73524,"identifier":"38.2-3100.3","token":"38.2\/31\/1\/38.2-3100.3","url":"\/38.2-3100.3\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3100.3\/","token":"38.2\/31\/1\/38.2-3100.3","dublin_core":{"Title":"Requirements of life insurance or annuity contracts used to fund preneed funeral contracts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3100.3","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> For purposes of this section, “preneed funeral contract<\/span>” means any agreement where payment is made by the insured prior to the receipt of services or supplies contracted for, which evidences<\/span> arrangements prior to death for (i) the providing of funeral services or (ii) the sale of funeral supplies. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each individual and group life insurance<\/span> policy issued or issued for delivery in Virginia, each individual and group annuity contract issued or issued for delivery in Virginia, and each certificate issued in connection with a group life insurance<\/span> policy or group annuity contract issued or issued for delivery in Virginia shall include a provision specifying the means by which face amount adjustments will be made and benefits payable upon death will be adjusted when such a policy or contract will be used to fund a preneed funeral contract<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Each insurer<\/span> proposing to issue<\/span> individual or group life insurance policies<\/span> or individual or group annuity contracts in Virginia for purposes of funding preneed funeral contracts<\/span> shall clearly disclose the intended purpose and market for such policies and contracts when submitting the forms with the Commission<\/span> for approval, in accordance with § 38.2-316<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREQUIREMENTS OF LIFE INSURANCE OR ANNUITY CONTRACTS USED TO FUND PRENEED FUNERAL\nCONTRACTS (\u00a7 38.2-3100.3)\n\nA. For purposes of this section, “preneed funeral contract” means\nany agreement where payment is made by the insured prior to the receipt of\nservices or supplies contracted for, which evidences arrangements prior to death\nfor (i) the providing of funeral services or (ii) the sale of funeral supplies.\n\nB. Each individual and group life insurance policy issued or issued for delivery\nin Virginia, each individual and group annuity contract issued or issued for\ndelivery in Virginia, and each certificate issued in connection with a group\nlife insurance policy or group annuity contract issued or issued for delivery in\nVirginia shall include a provision specifying the means by which face amount\nadjustments will be made and benefits payable upon death will be adjusted when\nsuch a policy or contract will be used to fund a preneed funeral contract.\n\nC. Each insurer proposing to issue individual or group life insurance policies\nor individual or group annuity contracts in Virginia for purposes of funding\npreneed funeral contracts shall clearly disclose the intended purpose and market\nfor such policies and contracts when submitting the forms with the Commission\nfor approval, in accordance with § 38.2-316.\n\nHISTORY: 2009, c. 653; 2022, cc. 18, 641.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}