                                 CODE OF VIRGINIA

PROCEEDS OF INSURANCE; BONA FIDE PAYMENT BY INSURANCE COMPANY OR OBLIGOR (§
64.2-2508)

A. Insurance proceeds payable to the slayer as the beneficiary or assignee of
any policy or certificate of insurance or bond or other contractual agreement on
the life of the decedent or as the survivor of a joint life policy shall be paid
to the estate of the decedent, unless the policy or certificate designates some
person as an alternative beneficiary to the slayer.

B. If the decedent is the beneficiary or assignee of any policy or certificate
of insurance on the life of the slayer, the proceeds shall be paid to the estate
of the decedent upon the death of the slayer, unless the policy names some
person other than the slayer or his estate as an alternative beneficiary, or
unless the slayer, by naming a new beneficiary or by assigning the policy,
performs an act that would have deprived the decedent of his interest in the
policy if he had been living.

C. No insurance company shall be subject to liability on a policy insuring the
life of the decedent if (i) as a part of the slayer&#8217;s plan to murder the
decedent, such policy was procured and maintained by the slayer or as a result
of actions taken or participated in by the slayer whether directly or indirectly
and (ii) the decedent&#8217;s death resulted from the slayer&#8217;s act
committed within two years from the date such policy was issued by the insurance
company.

D. Any insurer making payment according to the terms of its policy or contract
or any bank or other person performing an obligation for the slayer as one of
several joint obligees shall not be subjected to additional liability by the
terms of this section if such payment or performance is made without notice of
circumstances bringing it within the provisions of this section.

HISTORY: 1981, c. 469, § 55-411; 2008, cc. 822, 830; 2012, c. 614.