                                 CODE OF VIRGINIA

DEFINITION OF INDUSTRIAL SICK BENEFIT INSURANCE (§ 38.2-3544)

Industrial sick benefit insurance means life insurance combined with accident
and sickness insurance under which:

1. Premiums, dues or assessments are payable weekly;

2. A ten dollar maximum weekly indemnity is paid to members or policyowners in
the event of sickness or accident;

3. A $250 maximum death benefit is provided, and the named beneficiary is
confined to the spouse of the insured, a relative of the insured by blood,
marriage or adoption, a person bound in a pledge of marriage to the insured, or
any person dependent on the insured; and

4. The issuing insurer is not required by its charter, bylaws, or by statute to
maintain the legal reserve for death benefits.

HISTORY: Code 1950, §§ 38-350, 38-351, 38-352; 1952, c. 317, § 38.1-483;
1986, c. 562.