2006 Code of Virginia § 38.2-232 - Notice of lapse or pending lapse of certain life and accident and sickness insurance policie...

38.2-232. Notice of lapse or pending lapse of certain life and accident andsickness insurance policies.

Every insurer, health services plan, or health care plan that issues apolicy, contract, or plan of insurance or annuity as defined in 38.2-102through 38.2-109 shall provide the policy owner, contract owner, or planowner with a written notice prior to the date that the policy, contract, orplan will lapse for failure to pay premiums due.

This section shall not apply (i) to policies, contracts, or plans of groupinsurance, (ii) where the insurer, health services plan, or health care plan,as a general business practice, provides its policy owners, contract owners,or plan owners with written notices of premiums due, or (iii) where theinsurer, health services plan, or health care plan has furnished its policyowner, contract owner, or plan owner with written notice separate from thatcontained in the policy that the failure to pay premiums in a timely mannerwill result in a lapse of such policy, contract or plan.

(1991, c. 369.)