38.2-3546 - Cancellation of sick benefit portion of policy. - Virginia Statutes

§ 38.2-3546. Cancellation of sick benefit portion of policy.

Every policy of industrial sick benefit insurance issued in this Commonwealthafter June 18, 1922, shall contain a provision that:

1. The sick benefit portion of the policy may be cancelled by either theinsurer or the insured and the life portion continued by a payment of twentypercent of the original premium;

2. If the cancellation is by the insurer, it shall be without prejudice toany claim arising on account of disability commencing prior to the date onwhich the cancellation takes effect; and

3. Written notice of the cancellation and payment for the unearned portion ofthe premium shall be delivered to the insured or mailed to him at his lastknown address.

(Code 1950, § 38-359; 1952, c. 317, § 38.1-485; 1986, c. 562.)