38.2-3227 - Inclusion of lapse of time considerations.
§ 38.2-3227. Inclusion of lapse of time considerations.
Any paid-up annuity, cash surrender or death benefits available at any time,other than on the contract anniversary under any contract with fixedscheduled considerations, shall be calculated with allowance for a lapse oftime and the payment of any scheduled considerations beyond the beginning ofthe contract year in which cessation of payment of considerations under thecontract occurs.
(1979, c. 437, § 38.1-470.1; 1986, c. 562.)