                                 CODE OF VIRGINIA

RIGHT TO INDIVIDUAL POLICY UPON TERMINATION OF GROUP POLICY OR ELIMINATION OF
CLASS OF INSURED PERSONS (§ 38.2-3333)

Each group life insurance policy shall contain a provision that if the group
policy terminates or is amended so as to terminate the insurance of any class of
insured persons, every person, other than a minor child insured pursuant to §
38.2-3323, whose insurance terminates and who has been insured for at least five
years prior to the termination date shall be entitled to have the insurer issue
him an individual life insurance policy. The individual life policy shall be
subject to the conditions and limitations set forth in § 38.2-3332. However,
the group policy may contain a provision that the amount of the individual
policy shall not exceed the smaller of (i) the amount of the person&#8217;s life
insurance protection ceasing because of the termination or amendment of the
group policy, less the amount of any life insurance for which he is or becomes
eligible under any group policy issued or reinstated by the same or another
insurer within 31 days after the termination, or (ii) $10,000.

HISTORY: 1960, c. 273, § 38.1-428.2; 1986, c. 562.