                                 CODE OF VIRGINIA

STANDARD PROVISIONS REQUIRED; EXCEPTIONS (§ 38.2-3324)

A. No group life insurance policy shall be delivered or issued for delivery in
this Commonwealth unless it contains in substance the standard provisions
prescribed in this article. The standard provisions required for individual life
insurance policies shall not apply to group life insurance policies.

B. If a group life insurance policy is not term insurance, it shall contain a
nonforfeiture provision that in the opinion of the Commission is equitable to
the insured persons and to the policyholder. This subsection shall not be
construed to require that group life insurance policies contain the same
nonforfeiture provisions as are required for individual life insurance policies.

C. The provisions of &#xA7; 38.2-3330, subsection A of &#xA7; 38.2-3331, and
&#xA7;&#xA7; 38.2-3332 through 38.2-3334 shall not apply to policies issued
pursuant to &#xA7; 38.2-3318.1 B or group life insurance contracts in which the
insurable interest is as described in subdivision 3 of subsection B of &#xA7;
38.2-301.

HISTORY: Code 1950, §§ 38-429, 38-431; 1952, c. 317, § 38.1-424; 1960, c.
273; 1968, c. 282; 1970, c. 145; 1986, c. 562; 1993, c. 105; 1998, c. 154.