{"law_id":"767429","section_number":"38.2-3348","catch_line":"Reinstatement","history":"Code 1950, \u00a7 38-434(7); 1952, c. 317, \u00a7 38.1-416; 1986, c. 562.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/38.2-3348\/","refers_to":false,"url":"\/38.2-3348\/","token":"38.2\/33\/3\/38.2-3348","structure":{"1":{"id":"193","name":"Industrial Life Insurance Policies","identifier":"3","label":"article","url":"\/38.2\/33\/3\/"},"2":{"id":"192","name":"Life Insurance Policies","identifier":"33","label":"chapter","url":"\/38.2\/33\/"},"3":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"referred_to_by":[{"id":"788924","section_number":"38.2-3201","catch_line":"Same; for industrial life policies","url":"\/38.2-3201\/"},{"id":"772500","section_number":"38.2-3352","catch_line":"Provisions not required in certain policies","url":"\/38.2-3352\/"}],"edition_id":"11","section_id":"767429","structure_id":"193","full_text":" Each industrial life insurance policy shall contain a provision that the policy, if not surrendered for its cash value or if the period of extended term insurance has not expired, may be reinstated within one year from the date of default in payment of premiums upon:\r\r","text":{"0":{"id":"2473373","text":"Each industrial life insurance policy shall contain a provision that the policy, if not surrendered for its cash value or if the period of extended term insurance has not expired, may be reinstated within one year from the date of default in payment of premiums upon:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1},"1":{"id":"2473374","text":" Payment of all overdue premiums and, at the insurer’s option, interest on the overdue premiums at an annual rate not exceeding six percent; and","type":"section","prefixes":["","1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":2},"2":{"id":"2473375","text":" Presentation of evidence satisfactory to the insurer of the insurability of the insured.","type":"section","prefixes":["","2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":2}},"ancestry":{"1":{"id":"193","name":"Industrial Life Insurance Policies","identifier":"3","label":"article","url":"\/38.2\/33\/3\/"},"2":{"id":"192","name":"Life Insurance Policies","identifier":"33","label":"chapter","url":"\/38.2\/33\/"},"3":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"structure_contents":{"0":{"id":"766103","structure_id":"193","section_number":"38.2-3340","catch_line":"Definition of industrial life insurance","url":"\/38.2-3340\/","token":"38.2\/33\/3\/38.2-3340"},"1":{"id":"782863","structure_id":"193","section_number":"38.2-3341","catch_line":"Standard provisions required","url":"\/38.2-3341\/","token":"38.2\/33\/3\/38.2-3341"},"2":{"id":"786602","structure_id":"193","section_number":"38.2-3342","catch_line":"Ten-day right to examine policy","url":"\/38.2-3342\/","token":"38.2\/33\/3\/38.2-3342"},"3":{"id":"782498","structure_id":"193","section_number":"38.2-3343","catch_line":"Grace period","url":"\/38.2-3343\/","token":"38.2\/33\/3\/38.2-3343"},"4":{"id":"774541","structure_id":"193","section_number":"38.2-3344","catch_line":"Policy and application to constitute entire contract; statements deemed representations","url":"\/38.2-3344\/","token":"38.2\/33\/3\/38.2-3344"},"5":{"id":"791496","structure_id":"193","section_number":"38.2-3345","catch_line":"Incontestability","url":"\/38.2-3345\/","token":"38.2\/33\/3\/38.2-3345"},"6":{"id":"765091","structure_id":"193","section_number":"38.2-3346","catch_line":"Misstatement of age","url":"\/38.2-3346\/","token":"38.2\/33\/3\/38.2-3346"},"7":{"id":"775909","structure_id":"193","section_number":"38.2-3347","catch_line":"Nonforfeiture benefits and cash surrender values","url":"\/38.2-3347\/","token":"38.2\/33\/3\/38.2-3347"},"8":{"id":"767429","structure_id":"193","section_number":"38.2-3348","catch_line":"Reinstatement","url":"\/38.2-3348\/","token":"38.2\/33\/3\/38.2-3348"},"9":{"id":"774530","structure_id":"193","section_number":"38.2-3349","catch_line":"Table of nonforfeiture options","url":"\/38.2-3349\/","token":"38.2\/33\/3\/38.2-3349"},"10":{"id":"779977","structure_id":"193","section_number":"38.2-3350","catch_line":"Settlement","url":"\/38.2-3350\/","token":"38.2\/33\/3\/38.2-3350"},"11":{"id":"792237","structure_id":"193","section_number":"38.2-3351","catch_line":"Title","url":"\/38.2-3351\/","token":"38.2\/33\/3\/38.2-3351"},"12":{"id":"772500","structure_id":"193","section_number":"38.2-3352","catch_line":"Provisions not required in certain policies","url":"\/38.2-3352\/","token":"38.2\/33\/3\/38.2-3352"},"13":{"id":"782007","structure_id":"193","section_number":"38.2-3353","catch_line":"Provisions required by other jurisdictions","url":"\/38.2-3353\/","token":"38.2\/33\/3\/38.2-3353"},"14":{"id":"769706","structure_id":"193","section_number":"38.2-3354","catch_line":"Prohibited provisions","url":"\/38.2-3354\/","token":"38.2\/33\/3\/38.2-3354"}},"previous_section":{"id":"775909","structure_id":"193","section_number":"38.2-3347","catch_line":"Nonforfeiture benefits and cash surrender values","url":"\/38.2-3347\/","token":"38.2\/33\/3\/38.2-3347"},"next_section":{"id":"774530","structure_id":"193","section_number":"38.2-3349","catch_line":"Table of nonforfeiture options","url":"\/38.2-3349\/","token":"38.2\/33\/3\/38.2-3349"},"references":false,"formats":{"txt":"\/38.2-3348.txt","json":"\/38.2-3348.json","xml":"\/38.2-3348.xml"},"dublin_core":{"Title":"Reinstatement","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3348","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nREINSTATEMENT (\u00a7 38.2-3348)\n\nEach industrial life insurance policy shall contain a provision that the policy,\nif not surrendered for its cash value or if the period of extended term\ninsurance has not expired, may be reinstated within one year from the date of\ndefault in payment of premiums upon:\n\n   1.  Payment of all overdue premiums and, at the insurer’s option,\n   interest on the overdue premiums at an annual rate not exceeding six percent;\n   and\n\n   2.  Presentation of evidence satisfactory to the insurer of the insurability\n   of the insured.\n\nHISTORY: Code 1950, \u00a7 38-434(7); 1952, c. 317, \u00a7 38.1-416; 1986, c. 562."}