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2017 SESSION
17103079DBe 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, which notice shall sent by registered or certified mail.
B. The provisions of subsection A shall not apply (i) to group
policies, contracts, or plans of insurance or (ii) 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 (b) has furnished its
policy owner, contract owner, or plan owner with written notice, sent by registered or certified mail,
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.