38.2-4116 - Benefits. - Virginia Statutes

§ 38.2-4116. Benefits.

A. A society may apply to the Commission to provide the following contractualbenefits in any form:

1. Death benefits;

2. Endowment benefits;

3. Annuity benefits;

4. Temporary or permanent disability benefits;

5. Hospital, medical or nursing benefits;

6. Monument or tombstone benefits to the memory of deceased members; and

7. Such other benefits as authorized for life insurers and which are notinconsistent with this chapter.

B. A society shall specify in its rules those persons who may be issued, orcovered by, the contractual benefits in subsection A, consistent withproviding benefits to members and their dependents. A society may providebenefits on the lives of children under the minimum age for adult membershipupon application of an adult person.

(Code 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.)