{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3213.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3213.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3213.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3213.html"}],"law_id":85497,"edition_id":1,"section_id":85497,"structure_id":14541,"section_number":"38.2-3213","catch_line":"Same; exemptions from application of certain sections","history":"Code 1950, \u00a7 38-382; 1952, c. 317, \u00a7 38.1-467; 1962, c. 562; 1982, c. 228; 1986, c. 562.","full_text":"A\n\nSections 38.2-3202 through 38.2-3212 shall not apply to any:1\n\nCertificates of fraternal benefit societies;2\n\nReinsurance;3\n\nGroup insurance;4\n\nPure endowments;5\n\nAnnuities or reversionary annuity contracts;6\n\nTerm policies of uniform amount (i) that provide no guaranteed nonforfeiture or endowment benefits, or renewal thereof; (ii) that are of twenty years or less expiring before age seventy-one; and (iii) for which uniform premiums are payable during the entire term of the policy;7\n\nTerm policies of decreasing amount (i) that provide no guaranteed nonforfeiture or endowment benefits; (ii) on which each adjusted premium calculated as specified in §§ 38.2-3205 through 38.2-3209 is less than the adjusted premium calculated on term policies of uniform amount, or renewal thereof; (iii) that provide no guaranteed nonforfeiture or endowment benefits; (iv) that are issued at the same age and for the same initial amounts of insurance and for terms of twenty years or less expiring before age seventy-one; and (v) for which uniform premiums are payable during the entire term of the policy;8\n\nPolicies (i) that provide no guaranteed nonforfeiture or endowment benefits and (ii) for which any cash surrender value or present value of any paid-up nonforfeiture benefit at the beginning of any policy year, calculated as specified in §§ 38.2-3203 through 38.2-3209, does not exceed 2 1\/2% of the amount of insurance at the beginning of the same policy year; or9\n\nPolicies delivered outside this Commonwealth through an agent or other representative of the insurer issuing the policy.B\n\nFor purposes of determining the applicability of §§ 38.2-3202 through 38.2-3216, the age at expiry for a joint term life insurance policy shall be the age at expiry of the oldest life.","order_by":null,"text":{"0":{"id":306290,"text":"Sections 38.2-3202 through 38.2-3212 shall not apply to any:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":306291,"text":"Certificates of fraternal benefit societies;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":306292,"text":"Reinsurance;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":306293,"text":"Group insurance;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":306294,"text":"Pure endowments;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":306295,"text":"Annuities or reversionary annuity contracts;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":306296,"text":"Term policies of uniform amount (i) that provide no guaranteed nonforfeiture or endowment benefits, or renewal thereof; (ii) that are of twenty years or less expiring before age seventy-one; and (iii) for which uniform premiums are payable during the entire term of the policy;","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":306297,"text":"Term policies of decreasing amount (i) that provide no guaranteed nonforfeiture or endowment benefits; (ii) on which each adjusted premium calculated as specified in §§ 38.2-3205 through 38.2-3209 is less than the adjusted premium calculated on term policies of uniform amount, or renewal thereof; (iii) that provide no guaranteed nonforfeiture or endowment benefits; (iv) that are issued at the same age and for the same initial amounts of insurance and for terms of twenty years or less expiring before age seventy-one; and (v) for which uniform premiums are payable during the entire term of the policy;","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":306298,"text":"Policies (i) that provide no guaranteed nonforfeiture or endowment benefits and (ii) for which any cash surrender value or present value of any paid-up nonforfeiture benefit at the beginning of any policy year, calculated as specified in §§ 38.2-3203 through 38.2-3209, does not exceed 2 1\/2% of the amount of insurance at the beginning of the same policy year; or","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"A9"},"9":{"id":306299,"text":"Policies delivered outside this Commonwealth through an agent or other representative of the insurer issuing the policy.","type":"section","prefixes":["A","9"],"prefix":"9","entire_prefix":"A9","prefix_anchor":"A9","level":2,"prior_prefix":"A8","next_prefix":"B"},"10":{"id":306300,"text":"For purposes of determining the applicability of §§ 38.2-3202 through 38.2-3216, the age at expiry for a joint term life insurance policy shall be the age at expiry of the oldest life.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A9"}},"ancestry":[{"id":14541,"edition_id":1,"name":"Standard Nonforfeiture Provisions for Life Insurance","identifier":"32","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:48:35","date_modified":"2026-06-26 03:48:35","permalink":{"id":214505,"object_type":"structure","relational_id":14541,"identifier":"32","token":"38.2\/32","url":"\/38.2\/32\/","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":78309,"structure_id":14541,"section_number":"38.2-3200","catch_line":"Nonforfeiture benefits and cash surrender values in life policies issued prior to operative date stated in \u00a7 38.2-3214","url":"\/38.2-3200\/","token":"38.2\/32\/38.2-3200","metadata":false},{"id":71133,"structure_id":14541,"section_number":"38.2-3201","catch_line":"Same; for industrial life policies","url":"\/38.2-3201\/","token":"38.2\/32\/38.2-3201","metadata":false},{"id":57831,"structure_id":14541,"section_number":"38.2-3202","catch_line":"Standard nonforfeiture law; required policy provisions","url":"\/38.2-3202\/","token":"38.2\/32\/38.2-3202","metadata":false},{"id":77891,"structure_id":14541,"section_number":"38.2-3203","catch_line":"Same; cash surrender value in case of default","url":"\/38.2-3203\/","token":"38.2\/32\/38.2-3203","metadata":false},{"id":79190,"structure_id":14541,"section_number":"38.2-3204","catch_line":"Same; present value of paid-up nonforfeiture benefits on default","url":"\/38.2-3204\/","token":"38.2\/32\/38.2-3204","metadata":false},{"id":61365,"structure_id":14541,"section_number":"38.2-3205","catch_line":"Same; calculation of adjusted premiums","url":"\/38.2-3205\/","token":"38.2\/32\/38.2-3205","metadata":false},{"id":75902,"structure_id":14541,"section_number":"38.2-3206","catch_line":"Same; tables used for calculations","url":"\/38.2-3206\/","token":"38.2\/32\/38.2-3206","metadata":false},{"id":59688,"structure_id":14541,"section_number":"38.2-3207","catch_line":"Same; use of new mortality table; ordinary policies","url":"\/38.2-3207\/","token":"38.2\/32\/38.2-3207","metadata":false},{"id":85809,"structure_id":14541,"section_number":"38.2-3208","catch_line":"Same; industrial policies","url":"\/38.2-3208\/","token":"38.2\/32\/38.2-3208","metadata":false},{"id":77084,"structure_id":14541,"section_number":"38.2-3209","catch_line":"Same; adjusted premiums for policies","url":"\/38.2-3209\/","token":"38.2\/32\/38.2-3209","metadata":false},{"id":80831,"structure_id":14541,"section_number":"38.2-3210","catch_line":"Same; life insurance providing future premium determination","url":"\/38.2-3210\/","token":"38.2\/32\/38.2-3210","metadata":false},{"id":60003,"structure_id":14541,"section_number":"38.2-3211","catch_line":"Same; other factors in calculations","url":"\/38.2-3211\/","token":"38.2\/32\/38.2-3211","metadata":false},{"id":70462,"structure_id":14541,"section_number":"38.2-3212","catch_line":"Same; policies issued on or after January 1, 1986","url":"\/38.2-3212\/","token":"38.2\/32\/38.2-3212","metadata":false},{"id":85497,"structure_id":14541,"section_number":"38.2-3213","catch_line":"Same; exemptions from application of certain sections","url":"\/38.2-3213\/","token":"38.2\/32\/38.2-3213","metadata":false},{"id":60385,"structure_id":14541,"section_number":"38.2-3214","catch_line":"Same; operative date","url":"\/38.2-3214\/","token":"38.2\/32\/38.2-3214","metadata":false},{"id":59064,"structure_id":14541,"section_number":"38.2-3215","catch_line":"Same; operative date for \u00a7 38.2-3207","url":"\/38.2-3215\/","token":"38.2\/32\/38.2-3215","metadata":false},{"id":68021,"structure_id":14541,"section_number":"38.2-3216","catch_line":"Same; operative date for \u00a7 38.2-3208","url":"\/38.2-3216\/","token":"38.2\/32\/38.2-3216","metadata":false},{"id":84594,"structure_id":14541,"section_number":"38.2-3217","catch_line":"Loan provisions in policies issued prior to operative date stated in \u00a7 38.2-3214","url":"\/38.2-3217\/","token":"38.2\/32\/38.2-3217","metadata":false},{"id":55994,"structure_id":14541,"section_number":"38.2-3218","catch_line":"Same; in policies subsequently issued","url":"\/38.2-3218\/","token":"38.2\/32\/38.2-3218","metadata":false},{"id":85068,"structure_id":14541,"section_number":"38.2-3219","catch_line":"Applicability","url":"\/38.2-3219\/","token":"38.2\/32\/38.2-3219","metadata":false},{"id":73664,"structure_id":14541,"section_number":"38.2-3220","catch_line":"Nonforfeiture requirements","url":"\/38.2-3220\/","token":"38.2\/32\/38.2-3220","metadata":false},{"id":64780,"structure_id":14541,"section_number":"38.2-3221","catch_line":"Minimum values","url":"\/38.2-3221\/","token":"38.2\/32\/38.2-3221","metadata":false},{"id":74981,"structure_id":14541,"section_number":"38.2-3222","catch_line":"Computation of present value","url":"\/38.2-3222\/","token":"38.2\/32\/38.2-3222","metadata":false},{"id":85744,"structure_id":14541,"section_number":"38.2-3223","catch_line":"Calculation of cash surrender values","url":"\/38.2-3223\/","token":"38.2\/32\/38.2-3223","metadata":false},{"id":84416,"structure_id":14541,"section_number":"38.2-3224","catch_line":"Calculation of paid-up annuity benefits","url":"\/38.2-3224\/","token":"38.2\/32\/38.2-3224","metadata":false},{"id":75346,"structure_id":14541,"section_number":"38.2-3225","catch_line":"Maturity date","url":"\/38.2-3225\/","token":"38.2\/32\/38.2-3225","metadata":false},{"id":78619,"structure_id":14541,"section_number":"38.2-3226","catch_line":"Disclosure of limited death benefits","url":"\/38.2-3226\/","token":"38.2\/32\/38.2-3226","metadata":false},{"id":80588,"structure_id":14541,"section_number":"38.2-3227","catch_line":"Inclusion of lapse of time considerations","url":"\/38.2-3227\/","token":"38.2\/32\/38.2-3227","metadata":false},{"id":64270,"structure_id":14541,"section_number":"38.2-3228","catch_line":"Proration of values; additional benefits","url":"\/38.2-3228\/","token":"38.2\/32\/38.2-3228","metadata":false},{"id":66707,"structure_id":14541,"section_number":"38.2-3229","catch_line":"Effective date","url":"\/38.2-3229\/","token":"38.2\/32\/38.2-3229","metadata":false}],"previous_section":{"id":70462,"structure_id":14541,"section_number":"38.2-3212","catch_line":"Same; policies issued on or after January 1, 1986","url":"\/38.2-3212\/","token":"38.2\/32\/38.2-3212","metadata":false},"next_section":{"id":60385,"structure_id":14541,"section_number":"38.2-3214","catch_line":"Same; operative date","url":"\/38.2-3214\/","token":"38.2\/32\/38.2-3214","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3213\/","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 1962, chapter 562; in 1982, chapter 228; in 1986, chapter 562.<\/p>","references":[{"id":57831,"section_number":"38.2-3202","catch_line":"Standard nonforfeiture law; required policy provisions","order_by":null,"url":"\/38.2-3202\/"},{"id":77084,"section_number":"38.2-3209","catch_line":"Same; adjusted premiums for policies","order_by":null,"url":"\/38.2-3209\/"},{"id":80831,"section_number":"38.2-3210","catch_line":"Same; life insurance providing future premium determination","order_by":null,"url":"\/38.2-3210\/"},{"id":60385,"section_number":"38.2-3214","catch_line":"Same; operative date","order_by":null,"url":"\/38.2-3214\/"}],"refers_to":[{"id":57831,"section_number":"38.2-3202","catch_line":"Standard nonforfeiture law; required policy provisions","order_by":null,"url":"\/38.2-3202\/"},{"id":77891,"section_number":"38.2-3203","catch_line":"Same; cash surrender value in case of default","order_by":null,"url":"\/38.2-3203\/"},{"id":61365,"section_number":"38.2-3205","catch_line":"Same; calculation of adjusted premiums","order_by":null,"url":"\/38.2-3205\/"},{"id":77084,"section_number":"38.2-3209","catch_line":"Same; adjusted premiums for policies","order_by":null,"url":"\/38.2-3209\/"},{"id":70462,"section_number":"38.2-3212","catch_line":"Same; policies issued on or after January 1, 1986","order_by":null,"url":"\/38.2-3212\/"},{"id":68021,"section_number":"38.2-3216","catch_line":"Same; operative date for \u00a7 38.2-3208","order_by":null,"url":"\/38.2-3216\/"}],"permalink":{"id":214559,"object_type":"law","relational_id":85497,"identifier":"38.2-3213","token":"38.2\/32\/38.2-3213","url":"\/38.2-3213\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3213\/","token":"38.2\/32\/38.2-3213","dublin_core":{"Title":"Same; exemptions from application of certain sections","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3213","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Sections 38.2-3202<\/a> through 38.2-3212<\/a> shall not apply to any: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Certificates of fraternal benefit societies; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Reinsurance; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Group insurance<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Pure endowments; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Annuities or reversionary annuity contracts<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Term policies of uniform amount (i) that provide no guaranteed nonforfeiture or endowment benefits, or renewal thereof; (ii) that are of twenty years or less expiring before age seventy-one; and (iii) for which uniform premiums are payable during the entire term of the policy; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Term policies of decreasing amount (i) that provide no guaranteed nonforfeiture or endowment benefits; (ii) on which each adjusted premium calculated as specified in §§ 38.2-3205<\/a> through 38.2-3209<\/a> is less than the adjusted premium calculated on term policies of uniform amount, or renewal thereof; (iii) that provide no guaranteed nonforfeiture or endowment benefits; (iv) that are issued at the same age and for the same initial amounts of insurance<\/span> and for terms of twenty years or less expiring before age seventy-one; and (v) for which uniform premiums are payable during the entire term of the policy; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Policies (i) that provide no guaranteed nonforfeiture or endowment benefits and (ii) for which any cash surrender value or present value of any paid-up nonforfeiture benefit at the beginning of any policy year, calculated as specified in §§ 38.2-3203<\/a> through 38.2-3209<\/a>, does not exceed 2 1\/2% of the amount of insurance<\/span> at the beginning of the same policy year; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Policies delivered outside this Commonwealth through an agent or other representative of the insurer<\/span> issuing the policy. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For purposes of determining the applicability of §§ 38.2-3202<\/a> through 38.2-3216<\/a>, the age at expiry for a joint term life insurance<\/span> policy shall be the age at expiry of the oldest life. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSAME; EXEMPTIONS FROM APPLICATION OF CERTAIN SECTIONS (\u00a7 38.2-3213)\n\nA. Sections 38.2-3202 through 38.2-3212 shall not apply to any:\n\n 1. Certificates of fraternal benefit societies;\n\n 2. Reinsurance;\n\n 3. Group insurance;\n\n 4. Pure endowments;\n\n 5. Annuities or reversionary annuity contracts;\n\n 6. Term policies of uniform amount (i) that provide no guaranteed\n nonforfeiture or endowment benefits, or renewal thereof; (ii) that are of\n twenty years or less expiring before age seventy-one; and (iii) for which\n uniform premiums are payable during the entire term of the policy;\n\n 7. Term policies of decreasing amount (i) that provide no guaranteed\n nonforfeiture or endowment benefits; (ii) on which each adjusted premium\n calculated as specified in §§ 38.2-3205 through 38.2-3209 is less\n than the adjusted premium calculated on term policies of uniform amount, or\n renewal thereof; (iii) that provide no guaranteed nonforfeiture or endowment\n benefits; (iv) that are issued at the same age and for the same initial\n amounts of insurance and for terms of twenty years or less expiring before age\n seventy-one; and (v) for which uniform premiums are payable during the entire\n term of the policy;\n\n 8. Policies (i) that provide no guaranteed nonforfeiture or endowment benefits\n and (ii) for which any cash surrender value or present value of any paid-up\n nonforfeiture benefit at the beginning of any policy year, calculated as\n specified in §§ 38.2-3203 through 38.2-3209, does not exceed 2 1\/2%\n of the amount of insurance at the beginning of the same policy year; or\n\n 9. Policies delivered outside this Commonwealth through an agent or other\n representative of the insurer issuing the policy.\n\nB. For purposes of determining the applicability of §§ 38.2-3202\nthrough 38.2-3216, the age at expiry for a joint term life insurance policy\nshall be the age at expiry of the oldest life.\n\nHISTORY: Code 1950, \u00a7 38-382; 1952, c. 317, \u00a7 38.1-467; 1962, c. 562; 1982, c.\n228; 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}}