General Provisions

This is the 2026 edition of the code. This is the current edition. It was last updated Aug 02, 2026. Browse all editions.

This is Article 1 of the Code of Virginia, titled “General Provisions.” It is part of Chapter 31 “Life Insurance”, which is part of Title 38.2 “Insurance”. It contains 27 laws.

It’s comprised of the following 27 sections.

§ 38.2-3100	Scope of chapter
§ 38.2-3100.1	Forms of insurance authorized
§ 38.2-3100.2	Funding agreements
§ 38.2-3100.3	Requirements of life insurance or annuity contracts used to fund preneed funeral contracts
§ 38.2-3101	Legal reserve insurers
§ 38.2-3102	Domestic insurers prohibited from insuring lives and persons of residents of "reciprocal states."
§ 38.2-3103	Fraudulent procurement of policy; penalty
§ 38.2-3104	No policy to be issued purporting to take effect more than six months before application made; conversion permitted
§ 38.2-3105	What contracts with respect to life insurance may be made by minors
§ 38.2-3106	Suicide and execution not grounds of defense; exception
§ 38.2-3107	Incontestability of certain policies
§ 38.2-3108	Misstatement of age
§ 38.2-3109	Contestability of reinstated policy
§ 38.2-3110	Incontestability not applicable to excluded or restricted coverage
§ 38.2-3111	Assignment of life insurance policies
§ 38.2-3111.1	Annuity contract purchased to fund retirement benefits; transfer subject to Commission approval
§ 38.2-3112	Designation of testamentary trustee as beneficiary
§ 38.2-3113	Variable life insurance and variable annuities; separate accounts to be established; authority to issue; reports; special voting rights and procedures for owners
§ 38.2-3113.1	Modified guaranteed life insurance and modified guaranteed annuities; separate accounts; authority to issue; statements required; regulations to be issued; approval expenses
§ 38.2-3113.2	Qualified charitable gift annuities; issuance not business of insurance; disclosures to donors; unfair trade practices provisions not applicable
§ 38.2-3113.3	Educational loan provisions in life insurance policies
§ 38.2-3114	Statements required in variable life insurance and variable annuity contracts and certificates issued pursuant to group variable life insurance and group variable annuity contracts
§ 38.2-3115	Interest on life insurance and annuity contract proceeds
§ 38.2-3115.1	Accelerated payment of benefits
§ 38.2-3116	Commission to establish standards for simplified and readable life insurance and annuity policies
§ 38.2-3117	Standards for certain policies; prohibited policies
§ 38.2-3117.01	Provision of life insurance information upon notification of insured's death