Death benefits; definition excludes payments under a life insurance contract. (HB1301)

Introduced By

Sen. Kenneth Alexander (D-Norfolk)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Death benefits; former spouse. Amends a provision enacted in 1993 stating that divorce revokes the designation of a former spouse as a beneficiary of a "death benefit" by revising the definition of "death benefit" to exclude payments under a life insurance contract. A provision that requires life insurance and annuity contracts to explain that Virginia law revokes the spouse as beneficiary upon divorce is revised to include only annuity contracts, since life insurance benefits will no longer be considered death benefits. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2006Prefiled and ordered printed; offered 01/11/06 064866208
01/11/2006Referred to Committee for Courts of Justice
02/15/2006Left in Courts of Justice