A. A society may apply to the Commission to provide the following contractual benefits in any form:\n1. Death benefits;\n2. Endowment benefits;\n3. Annuity benefits;\n4. Temporary or permanent disability benefits;\n5. Hospital, medical or nursing benefits;\n6. Monument or tombstone benefits to the memory of deceased members; and\n7. Such other benefits as authorized for life insurers and which are not inconsistent with this chapter.\nB. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection A, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.\nCode 1950, §§ 38-283, 38.1-599; 1952, c. 317, § 38.1-638.31; 1968, c. 654; 1972, c. 530; 1975, c. 262; 1986, c. 562.
Virginia Legal Code