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2013 SESSION
13100715DBe it enacted by the General Assembly of Virginia:
1. That § 38.2-232 of the Code of Virginia is amended and reenacted as follows:
§ 38.2-232. Notice of lapse or pending lapse of certain life and accident and sickness insurance policies.
A. Every insurer, health services plan, or health care plan that issues a policy, contract, or plan of insurance or annuity as defined in §§ 38.2-102 through 38.2-109 shall provide the policy owner, contract owner, or plan owner with a written notice prior to the date that the policy, contract, or plan will lapse for failure to pay premiums due.
This section B. The provisions of subsection A shall
not apply (i) to group policies,
contracts, or plans of group
insurance, or
(ii) where to
individual policies, contracts, or plans of
insurance if the insurer, health services plan, or health
care plan, (a)
as a general business practice,
provides its policy owners, contract owners, or plan owners with written
notices of premiums due, or (iii) where the insurer, health
services plan, or health care plan (b)
has furnished its policy owner, contract owner, or plan owner with written
notice separate from that contained in the policy that the failure to pay
premiums in a timely manner will result in a lapse of such policy, contract, or plan.
2. That the provisions of this act are declarative of existing law.