A. No individual accident and sickness insurance policy shall be delivered orissued for delivery to any person in this Commonwealth unless:
1. The entire consideration for the policy is expressed in the policy;
2. The time at which the insurance takes effect and terminates is expressedin the policy;
3. The policy insures only one person, except that it may insure eligiblefamily members, originally or by subsequent amendment, upon the applicationof an adult member of a family who shall be deemed the policyowner;
4. The exceptions and reductions are set forth in the policy and, exceptthose that are set forth in §§ 38.2-3503 through 38.2-3508, are printed withthe benefit provisions to which they apply, or under an appropriate caption,but if an exception or reduction specifically applies only to a particularbenefit of the policy, a statement of the exception or reduction shall beincluded with that benefit provision;
5. Each form, including riders and endorsements, is identified by a formnumber in the lower left-hand corner of the first page of the form;
6. It contains no provision making any portion of the charter, rules,constitution, or bylaws of the insurer a part of the policy unless thatportion is set forth in the policy, except in the case of the incorporationof, or reference to, a statement of rates or classification of risks, orshort-rate table filed with the Commission; and
7. It contains a statement about the provisions of subsections A and B of §32.1-325.2 regarding the status of the Department of Medical AssistanceServices as the payor of last resort.
B. If any policy is issued by an insurer domiciled in this Commonwealth fordelivery to a person residing in another state, and if the insurancesupervisory official of the other state advises the Commission that any suchpolicy is not subject to approval or disapproval by such official, theCommission may by ruling require that such policy meet the standards setforth in this chapter.
C. "Eligible family member" means the (i) spouse, (ii) dependent children,without regard to whether such children reside in the same household as thepolicyowner, (iii) children under a specified age not greater than nineteenyears, and (iv) any person dependent on the policyowner.
(1952, c. 317, § 38.1-348; 1986, cc. 550, 562; 1993, c. 306; 1994, c. 316.)
A. No individual accident and sickness insurance policy shall be delivered orissued for delivery to any person in this Commonwealth unless:
1. The entire consideration for the policy is expressed in the policy;
2. The time at which the insurance takes effect and terminates is expressedin the policy;
3. The policy insures only one person, except that it may insure eligiblefamily members, originally or by subsequent amendment, upon the applicationof an adult member of a family who shall be deemed the policyowner;
4. The exceptions and reductions are set forth in the policy and, exceptthose that are set forth in §§ 38.2-3503 through 38.2-3508, are printed withthe benefit provisions to which they apply, or under an appropriate caption,but if an exception or reduction specifically applies only to a particularbenefit of the policy, a statement of the exception or reduction shall beincluded with that benefit provision;
5. Each form, including riders and endorsements, is identified by a formnumber in the lower left-hand corner of the first page of the form;
6. It contains no provision making any portion of the charter, rules,constitution, or bylaws of the insurer a part of the policy unless thatportion is set forth in the policy, except in the case of the incorporationof, or reference to, a statement of rates or classification of risks, orshort-rate table filed with the Commission; and
7. It contains a statement about the provisions of subsections A and B of §32.1-325.2 regarding the status of the Department of Medical AssistanceServices as the payor of last resort.
B. If any policy is issued by an insurer domiciled in this Commonwealth fordelivery to a person residing in another state, and if the insurancesupervisory official of the other state advises the Commission that any suchpolicy is not subject to approval or disapproval by such official, theCommission may by ruling require that such policy meet the standards setforth in this chapter.
C. "Eligible family member" means the (i) spouse, (ii) dependent children,without regard to whether such children reside in the same household as thepolicyowner, (iii) children under a specified age not greater than nineteenyears, and (iv) any person dependent on the policyowner.
(1952, c. 317, § 38.1-348; 1986, cc. 550, 562; 1993, c. 306; 1994, c. 316.)
A. No individual accident and sickness insurance policy shall be delivered orissued for delivery to any person in this Commonwealth unless:
1. The entire consideration for the policy is expressed in the policy;
2. The time at which the insurance takes effect and terminates is expressedin the policy;
3. The policy insures only one person, except that it may insure eligiblefamily members, originally or by subsequent amendment, upon the applicationof an adult member of a family who shall be deemed the policyowner;
4. The exceptions and reductions are set forth in the policy and, exceptthose that are set forth in §§ 38.2-3503 through 38.2-3508, are printed withthe benefit provisions to which they apply, or under an appropriate caption,but if an exception or reduction specifically applies only to a particularbenefit of the policy, a statement of the exception or reduction shall beincluded with that benefit provision;
5. Each form, including riders and endorsements, is identified by a formnumber in the lower left-hand corner of the first page of the form;
6. It contains no provision making any portion of the charter, rules,constitution, or bylaws of the insurer a part of the policy unless thatportion is set forth in the policy, except in the case of the incorporationof, or reference to, a statement of rates or classification of risks, orshort-rate table filed with the Commission; and
7. It contains a statement about the provisions of subsections A and B of §32.1-325.2 regarding the status of the Department of Medical AssistanceServices as the payor of last resort.
B. If any policy is issued by an insurer domiciled in this Commonwealth fordelivery to a person residing in another state, and if the insurancesupervisory official of the other state advises the Commission that any suchpolicy is not subject to approval or disapproval by such official, theCommission may by ruling require that such policy meet the standards setforth in this chapter.
C. "Eligible family member" means the (i) spouse, (ii) dependent children,without regard to whether such children reside in the same household as thepolicyowner, (iii) children under a specified age not greater than nineteenyears, and (iv) any person dependent on the policyowner.
(1952, c. 317, § 38.1-348; 1986, cc. 550, 562; 1993, c. 306; 1994, c. 316.)
