{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3316.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3316.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3316.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3316.html"}],"law_id":86454,"edition_id":1,"section_id":86454,"structure_id":13165,"section_number":"38.2-3316","catch_line":"Provisions prohibited","history":"Code 1950, \u00a7 38-386; 1952, c. 317, \u00a7 38.1-406; 1956, c. 417; 1986, c. 562.","full_text":"No individual life insurance policy shall be delivered or issued for delivery in this Commonwealth if it contains any provision:\n\n1\n\nLimiting the time within which any action at law or in equity may be commenced to less than one year after the cause of action accrues;2\n\nFor any mode of settlement at maturity, of less value than the amount insured on the face of the policy plus any dividend additions, less any indebtedness to the insurer on or secured by the policy, and less any premium or portion of any premium, that may by the terms of the policy be deducted. This paragraph shall not apply to any nonforfeiture provision that employs the cash value less any indebtedness to purchase paid-up or extended insurance, and shall not prohibit the issuance of policies providing for a limitation in the amount payable under certain specified conditions;3\n\nFor forfeiture of the policy for failure to repay any loan on the policy, or to pay interest on any policy loan, while the total indebtedness on the policy, including interest, is less than the loan value of the policy; or4\n\nTo the effect that the agent soliciting the insurance is the agent of the person insured under the policy, or making the acts or representations of the agent binding upon the person insured under the policy.","order_by":null,"text":{"0":{"id":309658,"text":"No individual life insurance policy shall be delivered or issued for delivery in this Commonwealth if it contains any provision:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":309659,"text":"Limiting the time within which any action at law or in equity may be commenced to less than one year after the cause of action accrues;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":309660,"text":"For any mode of settlement at maturity, of less value than the amount insured on the face of the policy plus any dividend additions, less any indebtedness to the insurer on or secured by the policy, and less any premium or portion of any premium, that may by the terms of the policy be deducted. This paragraph shall not apply to any nonforfeiture provision that employs the cash value less any indebtedness to purchase paid-up or extended insurance, and shall not prohibit the issuance of policies providing for a limitation in the amount payable under certain specified conditions;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":309661,"text":"For forfeiture of the policy for failure to repay any loan on the policy, or to pay interest on any policy loan, while the total indebtedness on the policy, including interest, is less than the loan value of the policy; or","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":309662,"text":"To the effect that the agent soliciting the insurance is the agent of the person insured under the policy, or making the acts or representations of the agent binding upon the person insured under the policy.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":13165,"edition_id":1,"name":"Life Insurance Policies; Annuities","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":13164,"metadata":{},"date_created":"2026-06-26 03:44:22","date_modified":"2026-06-26 03:44:22","permalink":{"id":214629,"object_type":"structure","relational_id":13165,"identifier":"1","token":"38.2\/33\/1","url":"\/38.2\/33\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13164,"edition_id":1,"name":"Life Insurance Policies","identifier":"33","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:22","date_modified":"2026-06-26 03:44:22","permalink":{"id":214627,"object_type":"structure","relational_id":13164,"identifier":"33","token":"38.2\/33","url":"\/38.2\/33\/","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":59653,"structure_id":13165,"section_number":"38.2-3300","catch_line":"Requirements; exceptions","url":"\/38.2-3300\/","token":"38.2\/33\/1\/38.2-3300","metadata":false},{"id":64455,"structure_id":13165,"section_number":"38.2-3301","catch_line":"Ten-day right to examine policy","url":"\/38.2-3301\/","token":"38.2\/33\/1\/38.2-3301","metadata":false},{"id":81258,"structure_id":13165,"section_number":"38.2-3301.1","catch_line":"Delivery of individual life insurance policies","url":"\/38.2-3301.1\/","token":"38.2\/33\/1\/38.2-3301.1","metadata":false},{"id":54757,"structure_id":13165,"section_number":"38.2-3302","catch_line":"How premiums payable","url":"\/38.2-3302\/","token":"38.2\/33\/1\/38.2-3302","metadata":false},{"id":86620,"structure_id":13165,"section_number":"38.2-3303","catch_line":"Grace period","url":"\/38.2-3303\/","token":"38.2\/33\/1\/38.2-3303","metadata":false},{"id":61710,"structure_id":13165,"section_number":"38.2-3304","catch_line":"Policy constitutes entire contract; statements deemed representations","url":"\/38.2-3304\/","token":"38.2\/33\/1\/38.2-3304","metadata":false},{"id":87271,"structure_id":13165,"section_number":"38.2-3305","catch_line":"Incontestability","url":"\/38.2-3305\/","token":"38.2\/33\/1\/38.2-3305","metadata":false},{"id":84405,"structure_id":13165,"section_number":"38.2-3306","catch_line":"Misstatement of age","url":"\/38.2-3306\/","token":"38.2\/33\/1\/38.2-3306","metadata":false},{"id":80762,"structure_id":13165,"section_number":"38.2-3307","catch_line":"Participation in surplus","url":"\/38.2-3307\/","token":"38.2\/33\/1\/38.2-3307","metadata":false},{"id":59870,"structure_id":13165,"section_number":"38.2-3308","catch_line":"Policy loans","url":"\/38.2-3308\/","token":"38.2\/33\/1\/38.2-3308","metadata":false},{"id":80287,"structure_id":13165,"section_number":"38.2-3309","catch_line":"Nonforfeiture benefits and cash surrender values","url":"\/38.2-3309\/","token":"38.2\/33\/1\/38.2-3309","metadata":false},{"id":54184,"structure_id":13165,"section_number":"38.2-3310","catch_line":"Table of values and options","url":"\/38.2-3310\/","token":"38.2\/33\/1\/38.2-3310","metadata":false},{"id":77049,"structure_id":13165,"section_number":"38.2-3311","catch_line":"Reinstatement","url":"\/38.2-3311\/","token":"38.2\/33\/1\/38.2-3311","metadata":false},{"id":78506,"structure_id":13165,"section_number":"38.2-3312","catch_line":"Settlement","url":"\/38.2-3312\/","token":"38.2\/33\/1\/38.2-3312","metadata":false},{"id":68892,"structure_id":13165,"section_number":"38.2-3313","catch_line":"Table of installments","url":"\/38.2-3313\/","token":"38.2\/33\/1\/38.2-3313","metadata":false},{"id":85372,"structure_id":13165,"section_number":"38.2-3314","catch_line":"Title","url":"\/38.2-3314\/","token":"38.2\/33\/1\/38.2-3314","metadata":false},{"id":59133,"structure_id":13165,"section_number":"38.2-3315","catch_line":"Variations for certain forms of policies; providing more favorable terms","url":"\/38.2-3315\/","token":"38.2\/33\/1\/38.2-3315","metadata":false},{"id":86454,"structure_id":13165,"section_number":"38.2-3316","catch_line":"Provisions prohibited","url":"\/38.2-3316\/","token":"38.2\/33\/1\/38.2-3316","metadata":false},{"id":66309,"structure_id":13165,"section_number":"38.2-3317","catch_line":"Provisions required by other jurisdictions","url":"\/38.2-3317\/","token":"38.2\/33\/1\/38.2-3317","metadata":false}],"previous_section":{"id":59133,"structure_id":13165,"section_number":"38.2-3315","catch_line":"Variations for certain forms of policies; providing more favorable terms","url":"\/38.2-3315\/","token":"38.2\/33\/1\/38.2-3315","metadata":false},"next_section":{"id":66309,"structure_id":13165,"section_number":"38.2-3317","catch_line":"Provisions required by other jurisdictions","url":"\/38.2-3317\/","token":"38.2\/33\/1\/38.2-3317","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3316\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 1986, chapter 562.<\/p>","references":false,"refers_to":false,"permalink":{"id":214699,"object_type":"law","relational_id":86454,"identifier":"38.2-3316","token":"38.2\/33\/1\/38.2-3316","url":"\/38.2-3316\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3316\/","token":"38.2\/33\/1\/38.2-3316","dublin_core":{"Title":"Provisions prohibited","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3316","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

No individual life insurance<\/span> policy shall be delivered or issued for delivery in this Commonwealth if it contains any provision:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Limiting the time within which any action at law<\/span> or in equity<\/span> may be commenced to less than one year after the cause of action<\/span> accrues; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For any mode of settlement<\/span> at maturity, of less value than the amount insured on the face of the policy plus any dividend additions, less any indebtedness to the insurer<\/span> on or secured by the policy, and less any premium or portion of any premium, that may by the terms of the policy be deducted. This paragraph shall not apply to any nonforfeiture provision that employs the cash value less any indebtedness to purchase paid-up or extended insurance<\/span>, and shall not prohibit the issuance of policies providing for a limitation in the amount payable under certain specified conditions; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> For forfeiture of the policy for failure to repay any loan on the policy, or to pay interest on any policy loan, while the total indebtedness on the policy, including interest, is less than the loan value of the policy; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> To the effect that the agent soliciting the insurance<\/span> is the agent of the person<\/span> insured under the policy, or making the acts or representations of the agent binding upon the person<\/span> insured under the policy. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROVISIONS PROHIBITED (\u00a7 38.2-3316)\n\nNo individual life insurance policy shall be delivered or issued for delivery in\nthis Commonwealth if it contains any provision:\n\n1. Limiting the time within which any action at law or in equity may be\ncommenced to less than one year after the cause of action accrues;\n\n2. For any mode of settlement at maturity, of less value than the amount insured\non the face of the policy plus any dividend additions, less any indebtedness to\nthe insurer on or secured by the policy, and less any premium or portion of any\npremium, that may by the terms of the policy be deducted. This paragraph shall\nnot apply to any nonforfeiture provision that employs the cash value less any\nindebtedness to purchase paid-up or extended insurance, and shall not prohibit\nthe issuance of policies providing for a limitation in the amount payable under\ncertain specified conditions;\n\n3. For forfeiture of the policy for failure to repay any loan on the policy, or\nto pay interest on any policy loan, while the total indebtedness on the policy,\nincluding interest, is less than the loan value of the policy; or\n\n4. To the effect that the agent soliciting the insurance is the agent of the\nperson insured under the policy, or making the acts or representations of the\nagent binding upon the person insured under the policy.\n\nHISTORY: Code 1950, \u00a7 38-386; 1952, c. 317, \u00a7 38.1-406; 1956, c. 417; 1986, c.\n562.","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}}