                                 CODE OF VIRGINIA

LIFE, ACCIDENT, AND SICKNESS INSURANCE; APPLICATION REQUIRED (§ 38.2-302)

A. No contract of insurance upon a person shall be made or effectuated unless at
the time of the making of the contract the individual insured, being of lawful
age and competent to contract for the insurance contract, (i) applies for
insurance or (ii) consents in writing to the insurance contract. However:

   1. Either spouse may effect an insurance contract upon each other;

   2. Any person having an insurable interest in the life of a minor, or any
   person upon whom a minor is dependent for support and maintenance, may effect
   an insurance contract upon the life of or pertaining to the minor; or

   3. A corporate employer or an employee benefit trust having the insurable
   interest described in subdivision B 3 of &#xA7; 38.2-301 may effect an
   insurance contract upon the lives of such employees, provided that the
   employer or trust provides the employee with notice in writing that such
   insurance has been purchased, the amount of such coverage, and to whom
   benefits are payable in the event of the employee&#8217;s death.

B. Nothing in this section shall prohibit a minor from obtaining insurance on
his own life as authorized in &#xA7; 38.2-3105.

HISTORY: 1952, c. 317, § 38.1-330; 1986, c. 562; 1988, c. 831; 1993, c. 105;
2020, c. 900.