SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1995 SESSION
HJ 566 Study; need for regulation of viatical agreements.
Introduced by: Marian Van Landingham | all patrons ... notes | add to my profiles
SUMMARY:
Need for regulation of viatical agreements. Requests the Bureau of Insurance to study the need for regulation of viatical agreements--unregulated settlements for the transfer of all rights to current life insurance policies to a third party in exchange for discounted cash payments. Viatical settlements are available to terminally ill individuals who do not have access to living or accelerated benefits and for individuals with longer than six-month life expectancies, e.g., two years or more. The amount of the payment depends on such factors as life expectancy, policy value, premium waivers, litigation risks, policy type, and interest rate fluctuations. These unregulated activities are being aggressively marketed to terminally ill people, particularly those living with AIDS, and raise issues related to confidentiality, consumer protection, disclosure of possible consequences, etc. This resolution is a recommendation of the Joint Subcommittee Studying the Issues, Policies, and Programs Relating to Infection with Human Immunodeficiency Viruses, and the study results must be reported to the Joint Subcommittee by December 1, 1995.
FULL TEXT
HISTORY
- 01/23/95 House: Presented & ordered printed LD5829476
- 01/23/95 House: Referred to Committee on Rules
- 01/27/95 House: Assigned to Rules sub-committee: 3
- 02/02/95 House: Passed by indefinitely in Rules (10-Y 0-N)