{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3104.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3104.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3104.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3104.html"}],"law_id":67546,"edition_id":1,"section_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 permitted","history":"Code 1950, \u00a7 38-363; 1952, c. 317, \u00a7 38.1-435; 1956, c. 417; 1980, c. 205; 1986, c. 562.","full_text":"A\n\nNo life insurance policy delivered or issued for delivery in this Commonwealth shall be backdated more than six months from the date the written application for the insurance was made if the premium on the policy is less than the premium that would be payable on the policy, as determined by the nearest birthday of the insured when the application was made.B\n\nNeither the provisions of subsection A of this section nor any other provision of general law shall prohibit the conversion or exchange to some form of life insurance dated back to become effective at an age not less than the insured’s age at his nearest birthday on the date of issue of the existing contract for:1\n\nA policy insuring one person for a policy insuring another person dated not earlier than the original policy exchanged;2\n\nThe conversion of any existing life insurance policy; or3\n\nAny deferred annuity contract purchased by a consideration payable in annual or more frequent installments, and under which no annuity payments have yet been made.\n\t\t\t\tThe exchanged or converted form of life insurance shall not exceed the greater of (i) the amount of insurance under the existing policy or (ii) the amount of insurance that the premium or consideration paid for the existing policy or contract would have purchased at the insured’s age on his nearest birthday at the date of issue of the existing policy or contract.","order_by":null,"text":{"0":{"id":244749,"text":"No life insurance policy delivered or issued for delivery in this Commonwealth shall be backdated more than six months from the date the written application for the insurance was made if the premium on the policy is less than the premium that would be payable on the policy, as determined by the nearest birthday of the insured when the application was made.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":244750,"text":"Neither the provisions of subsection A of this section nor any other provision of general law shall prohibit the conversion or exchange to some form of life insurance dated back to become effective at an age not less than the insured’s age at his nearest birthday on the date of issue of the existing contract for:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":244751,"text":"A policy insuring one person for a policy insuring another person dated not earlier than the original policy exchanged;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":244752,"text":"The conversion of any existing life insurance policy; or","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":244753,"text":"Any deferred annuity contract purchased by a consideration payable in annual or more frequent installments, and under which no annuity payments have yet been made.\n\t\t\t\tThe exchanged or converted form of life insurance shall not exceed the greater of (i) the amount of insurance under the existing policy or (ii) the amount of insurance that the premium or consideration paid for the existing policy or contract would have purchased at the insured’s age on his nearest birthday at the date of issue of the existing policy or contract.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2"}},"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 03:44:35","permalink":{"id":214333,"object_type":"structure","relational_id":13293,"identifier":"1","token":"38.2\/31\/1","url":"\/38.2\/31\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13292,"edition_id":1,"name":"Life Insurance","identifier":"31","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":214331,"object_type":"structure","relational_id":13292,"identifier":"31","token":"38.2\/31","url":"\/38.2\/31\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79264,"structure_id":13293,"section_number":"38.2-3100","catch_line":"Scope of chapter","url":"\/38.2-3100\/","token":"38.2\/31\/1\/38.2-3100","metadata":false},{"id":59125,"structure_id":13293,"section_number":"38.2-3100.1","catch_line":"Forms of insurance authorized","url":"\/38.2-3100.1\/","token":"38.2\/31\/1\/38.2-3100.1","metadata":false},{"id":62806,"structure_id":13293,"section_number":"38.2-3100.2","catch_line":"Funding agreements","url":"\/38.2-3100.2\/","token":"38.2\/31\/1\/38.2-3100.2","metadata":false},{"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","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 permitted","url":"\/38.2-3104\/","token":"38.2\/31\/1\/38.2-3104","metadata":false},{"id":62631,"structure_id":13293,"section_number":"38.2-3105","catch_line":"What contracts with respect to life insurance may be made by minors","url":"\/38.2-3105\/","token":"38.2\/31\/1\/38.2-3105","metadata":false},{"id":79143,"structure_id":13293,"section_number":"38.2-3106","catch_line":"Suicide and execution not grounds of defense; exception","url":"\/38.2-3106\/","token":"38.2\/31\/1\/38.2-3106","metadata":false},{"id":58805,"structure_id":13293,"section_number":"38.2-3107","catch_line":"Incontestability of certain policies","url":"\/38.2-3107\/","token":"38.2\/31\/1\/38.2-3107","metadata":false},{"id":54784,"structure_id":13293,"section_number":"38.2-3108","catch_line":"Misstatement of age","url":"\/38.2-3108\/","token":"38.2\/31\/1\/38.2-3108","metadata":false},{"id":58169,"structure_id":13293,"section_number":"38.2-3109","catch_line":"Contestability of reinstated policy","url":"\/38.2-3109\/","token":"38.2\/31\/1\/38.2-3109","metadata":false},{"id":85290,"structure_id":13293,"section_number":"38.2-3110","catch_line":"Incontestability not applicable to excluded or restricted coverage","url":"\/38.2-3110\/","token":"38.2\/31\/1\/38.2-3110","metadata":false},{"id":86363,"structure_id":13293,"section_number":"38.2-3111","catch_line":"Assignment of life insurance policies","url":"\/38.2-3111\/","token":"38.2\/31\/1\/38.2-3111","metadata":false},{"id":63114,"structure_id":13293,"section_number":"38.2-3111.1","catch_line":"Annuity contract purchased to fund retirement benefits; transfer subject to Commission approval","url":"\/38.2-3111.1\/","token":"38.2\/31\/1\/38.2-3111.1","metadata":false},{"id":70263,"structure_id":13293,"section_number":"38.2-3112","catch_line":"Designation of testamentary trustee as beneficiary","url":"\/38.2-3112\/","token":"38.2\/31\/1\/38.2-3112","metadata":false},{"id":57329,"structure_id":13293,"section_number":"38.2-3113","catch_line":"Variable life insurance and variable annuities; separate accounts to be established; authority to issue; reports; special voting rights and procedures for owners","url":"\/38.2-3113\/","token":"38.2\/31\/1\/38.2-3113","metadata":false},{"id":72467,"structure_id":13293,"section_number":"38.2-3113.1","catch_line":"Modified guaranteed life insurance and modified guaranteed annuities; separate accounts; authority to issue; statements required; regulations to be issued; approval expenses","url":"\/38.2-3113.1\/","token":"38.2\/31\/1\/38.2-3113.1","metadata":false},{"id":69792,"structure_id":13293,"section_number":"38.2-3113.2","catch_line":"Qualified charitable gift annuities; issuance not business of insurance; disclosures to donors; unfair trade practices provisions not applicable","url":"\/38.2-3113.2\/","token":"38.2\/31\/1\/38.2-3113.2","metadata":false},{"id":65667,"structure_id":13293,"section_number":"38.2-3113.3","catch_line":"Educational loan provisions in life insurance policies","url":"\/38.2-3113.3\/","token":"38.2\/31\/1\/38.2-3113.3","metadata":false},{"id":85330,"structure_id":13293,"section_number":"38.2-3114","catch_line":"Statements required in variable life insurance and variable annuity contracts and certificates issued pursuant to group variable life insurance and group variable annuity contracts","url":"\/38.2-3114\/","token":"38.2\/31\/1\/38.2-3114","metadata":false},{"id":77467,"structure_id":13293,"section_number":"38.2-3115","catch_line":"Interest on life insurance and annuity contract proceeds","url":"\/38.2-3115\/","token":"38.2\/31\/1\/38.2-3115","metadata":false},{"id":72867,"structure_id":13293,"section_number":"38.2-3115.1","catch_line":"Accelerated payment of benefits","url":"\/38.2-3115.1\/","token":"38.2\/31\/1\/38.2-3115.1","metadata":false},{"id":86306,"structure_id":13293,"section_number":"38.2-3116","catch_line":"Commission to establish standards for simplified and readable life insurance and annuity policies","url":"\/38.2-3116\/","token":"38.2\/31\/1\/38.2-3116","metadata":false},{"id":54283,"structure_id":13293,"section_number":"38.2-3117","catch_line":"Standards for certain policies; prohibited policies","url":"\/38.2-3117\/","token":"38.2\/31\/1\/38.2-3117","metadata":false},{"id":83030,"structure_id":13293,"section_number":"38.2-3117.01","catch_line":"Provision of life insurance information upon notification of insured's death","url":"\/38.2-3117.01\/","token":"38.2\/31\/1\/38.2-3117.01","metadata":false}],"previous_section":{"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},"next_section":{"id":62631,"structure_id":13293,"section_number":"38.2-3105","catch_line":"What contracts with respect to life insurance may be made by minors","url":"\/38.2-3105\/","token":"38.2\/31\/1\/38.2-3105","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3104\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. 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. Those modifications are as follows: in 1952, chapter 317; in 1956, chapter 417; in 1980, chapter 205; in 1986, chapter 562.<\/p>","references":false,"refers_to":false,"permalink":{"id":214363,"object_type":"law","relational_id":67546,"identifier":"38.2-3104","token":"38.2\/31\/1\/38.2-3104","url":"\/38.2-3104\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3104\/","token":"38.2\/31\/1\/38.2-3104","dublin_core":{"Title":"No policy to be issued purporting to take effect more than six months before application made; conversion permitted","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3104","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No life insurance<\/span> policy delivered or issued for delivery in this Commonwealth shall be backdated more than six months from the date the written application for the insurance<\/span> was made if the premium on the policy is less than the premium that would be payable on the policy, as determined by the nearest birthday of the insured when the application was made. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Neither the provisions of subsection A of this section nor any other provision of general law<\/span> shall prohibit the conversion or exchange to some form of life insurance<\/span> dated back to become effective at an age not less than the insured’s age at his nearest birthday on the date of issue<\/span> of the existing contract<\/span> for: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A policy insuring one person<\/span> for a policy insuring another person<\/span> dated not earlier than the original policy exchanged; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The conversion of any existing life insurance<\/span> policy; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any deferred annuity contract<\/span> purchased by a consideration payable in annual or more frequent installments, and under which no annuity payments have yet been made.\n\t\t\t\tThe exchanged or converted form of life insurance<\/span> shall not exceed the greater of (i) the amount of insurance<\/span> under the existing policy or (ii) the amount of insurance<\/span> that the premium or consideration paid for the existing policy or contract<\/span> would have purchased at the insured’s age on his nearest birthday at the date of issue<\/span> of the existing policy or contract<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nNO POLICY TO BE ISSUED PURPORTING TO TAKE EFFECT MORE THAN SIX MONTHS BEFORE\nAPPLICATION MADE; CONVERSION PERMITTED (\u00a7 38.2-3104)\n\nA. No life insurance policy delivered or issued for delivery in this\nCommonwealth shall be backdated more than six months from the date the written\napplication for the insurance was made if the premium on the policy is less than\nthe premium that would be payable on the policy, as determined by the nearest\nbirthday of the insured when the application was made.\n\nB. Neither the provisions of subsection A of this section nor any other\nprovision of general law shall prohibit the conversion or exchange to some form\nof life insurance dated back to become effective at an age not less than the\ninsured’s age at his nearest birthday on the date of issue of the existing\ncontract for:\n\n 1. A policy insuring one person for a policy insuring another person dated not\n earlier than the original policy exchanged;\n\n 2. The conversion of any existing life insurance policy; or\n\n 3. Any deferred annuity contract purchased by a consideration payable in\n annual or more frequent installments, and under which no annuity payments have\n yet been made.\n \t\t\t\tThe exchanged or converted form of life insurance shall not exceed the\n greater of (i) the amount of insurance under the existing policy or (ii) the\n amount of insurance that the premium or consideration paid for the existing\n policy or contract would have purchased at the insured’s age on his\n nearest birthday at the date of issue of the existing policy or contract.\n\nHISTORY: Code 1950, \u00a7 38-363; 1952, c. 317, \u00a7 38.1-435; 1956, c. 417; 1980, c.\n205; 1986, c. 562.","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}}