Virginia § 38.2-3311 - Reinstatement
Full text of Virginia Code of Virginia § 38.2-3311 — Reinstatement, with citation guidance and answers to common questions.
§ 38.2-3311. Reinstatement
Each individual life insurance policy shall have a provision that in the event of default in premium payments, if (i) the value of the policy has been applied automatically to the purchase of other insurance as provided for in this article, (ii) the insurance is in force, and (iii) the original policy has not been surrendered to the insurer and cancelled, the policy may be reinstated within three years from default, upon:
1. Evidence of insurability satisfactory to the insurer;
2. Payment of premiums in arrears with interest at a rate not exceeding six percent per year payable annually; and
3. The payment or reinstatement of any other indebtedness to the insurer upon the policy, with interest at the rate set forth in the policy for the indebtedness.
Code 1950, § 38-371(10); 1950, p. 180; 1952, c. 317, § 38.1-400; 1986, c. 562.
Frequently Asked Questions About Virginia § 38.2-3311
What does Code of Virginia § 38.2-3311 cover?
Section 38.2-3311 ("Reinstatement") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 38.2-3311?
A common citation format is "Code of Virginia § 38.2-3311" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 38.2-3311 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.