Life, Accident, and Sickness Insurance Guaranty Association; increases maximum amount of coverage. (SB39)
Introduced By
Sen. Bryce Reeves (R-Spotsylvania)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Virginia Life, Accident, and Sickness Insurance Guaranty Association. Increases the maximum amount of coverage provided by the Virginia Life, Accident, and Sickness Insurance Guaranty Association for life insurance death benefits from $300,000 to $500,000. The measure also increases the maximum amount that the Association may become obligated to cover with respect to (i) the net cash surrender and net cash withdrawal values for life insurance policies from $100,000 to $200,000 and (ii) the present value of annuity benefits, including net cash surrender and net cash withdrawal values, from $250,000 to $500,000. Amends § 38.2-1700 (“Purpose and applicability of chapter.”), of the Code of Virginia. View Full Text »
Status
12/30/2011: Awaiting a Vote in the Commerce and Labor Committee
View Bill's History
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