Payment of life insurance proceeds

What this document is

Virginia Code s. 38.2-3116 - Payment of life insurance proceeds is a state statute published by Virginia General Assembly (law.lis.virginia.gov). It is one of the Virginia documents that insurance license exam questions are written from, including virginia life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Va. Code § 38.2-3116 (Commission Readability Standards)

  “Pursuant to the authority granted under § 38.2-223 , the Commission may issue rules and regulations establishing standards for simplified and readable life insurance policies and annuity contracts.”

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