Section 180. Life insurance or annuity

If a life insurance or annuity policy is used to fund the preneed funeral contract, the contract shall be in compliance with provisions of §§ 38.2-3100.3 and 54.1-2820 B of the Code of Virginia and shall contain the following information:

1. Name of the contract provider;

2. Name and funeral license number of contract seller;

3. Place of employment of contract seller;

4. Name of insurance agent and agent's insurance license number;

5. Insurance agent's employer and insurance company represented by insurance agent; and

6. Identification as to whether the insurance agent is a funeral service licensee and, if so, the funeral service license number.

Historical Notes

Derived from VR320-01-3 § 6.9, eff. March 1, 1991; amended, Volume 09, Issue 22, eff. August 25, 1993; Volume 11, Issue 14, eff. May 3, 1995; Volume 15, Issue 07, eff. January 20, 1999; Volume 25, Issue 17, eff. July 1, 2009.

Statutory Authority

§ 54.1-2400 of the Code of Virginia.