Virginia Decodedhttps://vacode.org36200738.2-3117.3Supplemental contract2026InsuranceLife InsuranceUse of Retained Asset Accounts

If the insurer settles benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract.

2011, cc. 194, 227.