{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3347.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3347.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3347.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3347.html"}],"law_id":71365,"edition_id":1,"section_id":71365,"structure_id":15143,"section_number":"38.2-3347","catch_line":"Nonforfeiture benefits and cash surrender values","history":"Code 1950, \u00a7 38-434(5), (6); 1952, c. 317, \u00a7 38.1-415; 1986, c. 562.","full_text":"Each industrial life insurance policy shall contain a provision for nonforfeiture benefits in accordance with the requirements of \u00a7\u00a7 38.2-3202 and 38.2-3208, and a provision for cash surrender values in accordance with the requirements of \u00a7\u00a7 38.2-3203 and 38.2-3209.","order_by":null,"text":{"0":{"id":257326,"text":"Each industrial life insurance policy shall contain a provision for nonforfeiture benefits in accordance with the requirements of \u00a7\u00a7 38.2-3202 and 38.2-3208, and a provision for cash surrender values in accordance with the requirements of \u00a7\u00a7 38.2-3203 and 38.2-3209.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15143,"edition_id":1,"name":"Industrial Life Insurance Policies","identifier":"3","label":"article","depth":3,"order_by":1,"parent_id":13164,"metadata":{},"date_created":"2026-06-26 03:52:30","date_modified":"2026-06-26 03:52:30","permalink":{"id":214825,"object_type":"structure","relational_id":15143,"identifier":"3","token":"38.2\/33\/3","url":"\/38.2\/33\/3\/","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":81893,"structure_id":15143,"section_number":"38.2-3340","catch_line":"Definition of industrial life insurance","url":"\/38.2-3340\/","token":"38.2\/33\/3\/38.2-3340","metadata":false},{"id":77512,"structure_id":15143,"section_number":"38.2-3341","catch_line":"Standard provisions required","url":"\/38.2-3341\/","token":"38.2\/33\/3\/38.2-3341","metadata":false},{"id":65601,"structure_id":15143,"section_number":"38.2-3342","catch_line":"Ten-day right to examine policy","url":"\/38.2-3342\/","token":"38.2\/33\/3\/38.2-3342","metadata":false},{"id":81386,"structure_id":15143,"section_number":"38.2-3343","catch_line":"Grace period","url":"\/38.2-3343\/","token":"38.2\/33\/3\/38.2-3343","metadata":false},{"id":78410,"structure_id":15143,"section_number":"38.2-3344","catch_line":"Policy and application to constitute entire contract; statements deemed representations","url":"\/38.2-3344\/","token":"38.2\/33\/3\/38.2-3344","metadata":false},{"id":71274,"structure_id":15143,"section_number":"38.2-3345","catch_line":"Incontestability","url":"\/38.2-3345\/","token":"38.2\/33\/3\/38.2-3345","metadata":false},{"id":85567,"structure_id":15143,"section_number":"38.2-3346","catch_line":"Misstatement of age","url":"\/38.2-3346\/","token":"38.2\/33\/3\/38.2-3346","metadata":false},{"id":71365,"structure_id":15143,"section_number":"38.2-3347","catch_line":"Nonforfeiture benefits and cash surrender values","url":"\/38.2-3347\/","token":"38.2\/33\/3\/38.2-3347","metadata":false},{"id":71652,"structure_id":15143,"section_number":"38.2-3348","catch_line":"Reinstatement","url":"\/38.2-3348\/","token":"38.2\/33\/3\/38.2-3348","metadata":false},{"id":86616,"structure_id":15143,"section_number":"38.2-3349","catch_line":"Table of nonforfeiture options","url":"\/38.2-3349\/","token":"38.2\/33\/3\/38.2-3349","metadata":false},{"id":71343,"structure_id":15143,"section_number":"38.2-3350","catch_line":"Settlement","url":"\/38.2-3350\/","token":"38.2\/33\/3\/38.2-3350","metadata":false},{"id":79343,"structure_id":15143,"section_number":"38.2-3351","catch_line":"Title","url":"\/38.2-3351\/","token":"38.2\/33\/3\/38.2-3351","metadata":false},{"id":64143,"structure_id":15143,"section_number":"38.2-3352","catch_line":"Provisions not required in certain policies","url":"\/38.2-3352\/","token":"38.2\/33\/3\/38.2-3352","metadata":false},{"id":57691,"structure_id":15143,"section_number":"38.2-3353","catch_line":"Provisions required by other jurisdictions","url":"\/38.2-3353\/","token":"38.2\/33\/3\/38.2-3353","metadata":false},{"id":66416,"structure_id":15143,"section_number":"38.2-3354","catch_line":"Prohibited provisions","url":"\/38.2-3354\/","token":"38.2\/33\/3\/38.2-3354","metadata":false}],"previous_section":{"id":85567,"structure_id":15143,"section_number":"38.2-3346","catch_line":"Misstatement of age","url":"\/38.2-3346\/","token":"38.2\/33\/3\/38.2-3346","metadata":false},"next_section":{"id":71652,"structure_id":15143,"section_number":"38.2-3348","catch_line":"Reinstatement","url":"\/38.2-3348\/","token":"38.2\/33\/3\/38.2-3348","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3347\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 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 1986, chapter 562.<\/p>","references":[{"id":71133,"section_number":"38.2-3201","catch_line":"Same; for industrial life policies","order_by":null,"url":"\/38.2-3201\/"},{"id":64143,"section_number":"38.2-3352","catch_line":"Provisions not required in certain policies","order_by":null,"url":"\/38.2-3352\/"}],"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":85809,"section_number":"38.2-3208","catch_line":"Same; industrial policies","order_by":null,"url":"\/38.2-3208\/"},{"id":77084,"section_number":"38.2-3209","catch_line":"Same; adjusted premiums for policies","order_by":null,"url":"\/38.2-3209\/"}],"permalink":{"id":214855,"object_type":"law","relational_id":71365,"identifier":"38.2-3347","token":"38.2\/33\/3\/38.2-3347","url":"\/38.2-3347\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3347\/","token":"38.2\/33\/3\/38.2-3347","dublin_core":{"Title":"Nonforfeiture benefits and cash surrender values","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3347","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Each industrial life <span class=\"dictionary\">insurance<\/span> policy shall contain a provision for nonforfeiture benefits in accordance with the requirements of \u00a7\u00a7&nbsp;<a class=\"law\" title=\"Standard nonforfeiture law; required policy provisions\" href=\"\/38.2-3202\/\">38.2-3202<\/a> and <a class=\"law\" title=\"Same; industrial policies\" href=\"\/38.2-3208\/\">38.2-3208<\/a>, and a provision for cash surrender values in accordance with the requirements of \u00a7\u00a7&nbsp;<a class=\"law\" title=\"Same; cash surrender value in case of default\" href=\"\/38.2-3203\/\">38.2-3203<\/a> and <a class=\"law\" title=\"Same; adjusted premiums for policies\" href=\"\/38.2-3209\/\">38.2-3209<\/a>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nNONFORFEITURE BENEFITS AND CASH SURRENDER VALUES (\u00a7 38.2-3347)\n\nEach industrial life insurance policy shall contain a provision for\nnonforfeiture benefits in accordance with the requirements of \u00a7\u00a7 38.2-3202 and\n38.2-3208, and a provision for cash surrender values in accordance with the\nrequirements of \u00a7\u00a7 38.2-3203 and 38.2-3209.\n\nHISTORY: Code 1950, \u00a7 38-434(5), (6); 1952, c. 317, \u00a7 38.1-415; 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}}