Virginia Decodedhttps://vacode.org8058838.2-3227Inclusion of lapse of time considerations202538.2-322038.2-322138.2-3228InsuranceStandard Nonforfeiture Provisions for Life Insurance

Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for a lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.

1979, c. 437, § 38.1-470.1; 1986, c. 562.