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Searching 2025-2026 Session
Print

The Vermont Statutes Online

The Statutes below include the actions of the 2025 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 8: Banking and Insurance

Chapter 103: Life Insurance Policies and Annuity Contracts

  • Subchapter 001: GENERALLY
  •    § 3700. Statutory purposes

  •    § 3701. Discriminations prohibited

  •    § 3702. Other prohibited practices

  •    § 3703. Penalties

  •    § 3704. Trust agreements

  •    § 3705. Spendthrift provisions; creditors of beneficiary

  •    § 3706. Exemption of proceeds-Life insurance

  •    § 3707. Disability benefits

  •    § 3708. Group insurance

  •    § 3709. Annuity contracts-Assignability of rights

  •    § 3710. Power to contract-Purchase of annuities or insurance by minors

  •    § 3711. Charitable life gifts

  •    § 3712. Payment discharges insurer

  •    § 3713. Assignment of insurance policies or annuity contracts

  •    § 3714. Life policy as separate property of married woman

  •    § 3715. Forms for proof of loss to be furnished

  •    § 3716. Claims administration not waiver

  •    § 3717. Annuity contracts

  •    § 3718. Annuity considerations

  •    § 3718a. Charitable gift annuities

  •    § 3719. Valuation of bonds, etc.


  • Subchapter 002: LIFE INSURANCE AND ANNUITY CONTRACTS
  •    § 3731. Standard provisions required

  •    § 3732. ÔÇ£Industrial life insuranceÔÇØ defined

  •    § 3733. Excluded or restricted coverage in life insurance policies

  •    § 3734. Incontestability and limitation of liability after reinstatement

  •    § 3735. Application as evidence

  •    § 3736. Representations in applications


  • Subchapter 003: STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE
  •    §§ 3741-3749. Repealed. 2015, No. 63, § 6, effective June 17, 2015.


  • Subchapter 003A: STANDARD NONFORFEITURE LAW FOR INDIVIDUAL DEFERRED ANNUITIES
  •    § 3750. Standard Nonforfeiture Law for Individual Deferred Annuities


  • Subchapter 003B: STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE
  •    § 3760. Title

  •    § 3761. Definitions

  •    § 3762. Nonforfeiture benefits

  •    § 3763. Computation of cash surrender value

  •    § 3764. Computation of paid-up nonforfeiture benefits

  •    § 3765. Calculation of adjusted premiums

  •    § 3766. Calculation of adjusted premiums; ordinary policies

  •    § 3767. Calculation of adjusted premiums; industrial policies

  •    § 3768. Calculations of adjusted premiums by the nonforfeiture net level premium method

  •    § 3769. Nonforfeiture benefits for indeterminate premium plans

  •    § 3770. Proration of values; net value of paid-up additions

  •    § 3771. Consistency of progression of cash surrender values with increasing policy duration

  •    § 3772. Exceptions

  •    § 3773. Effective date; applicability


  • Subchapter 004: STANDARD VALUATION LAW
  •    §§ 3781-3789. Repealed. 2015, No. 63, § 6, effective June 17, 2015.


  • Subchapter 004A: STANDARD VALUATION LAW
  •    § 3791. Title

  •    § 3791a. Definitions

  •    § 3791b. Reserve valuation

  •    § 3791c. Actuarial opinion of reserves

  •    § 3791d. Computation of minimum standard

  •    § 3791e. Computation of minimum standard for annuities

  •    § 3791f. Computation of minimum standard by calendar year of issue

  •    § 3791g. Reserve valuation method-Life insurance and endowment benefits

  •    § 3791h. Reserve valuation method-Annuity and pure endowment benefits

  •    § 3791i. Minimum reserves

  •    § 3791j. Optional reserve calculation

  •    § 3791k. Reserve calculation-Valuation net premium exceeding the gross premium charged

  •    § 3791l. Reserve calculation-Indeterminate premium plans

  •    § 3791m. Minimum standard for accident and health insurance contracts

  •    § 3791n. Valuation manual for policies issued on or after the operative date of the valuation manual

  •    § 3791o. Requirements of a principle-based valuation

  •    § 3791p. Experience reporting for policies in force on or after the operative date of the valuation manual

  •    § 3791q. Confidentiality

  •    § 3791r. Single state exemption


  • Subchapter 005: GROUP LIFE INSURANCE
  •    § 3801. Scope of subchapter-Short title

  •    § 3802. Group contracts must meet group requirements

  •    § 3803. Employee groups

  •    § 3804. Labor union groups

  •    § 3805. Debtor groups

  •    § 3806. Licensed lenders; charges for insurance

  •    § 3807. Public employee groups

  •    § 3808. Trustee groups

  •    § 3809. Association of employers groups

  •    § 3810. Credit union groups

  •    § 3810a. Associations and discretionary groups

  •    § 3811. Dependents' coverage

  •    § 3812. Provisions required in group contracts

  •    § 3813. Grace period

  •    § 3814. Incontestability

  •    § 3815. Application; statements deemed representations

  •    § 3816. Insurability

  •    § 3817. Misstatement of age

  •    § 3818. Payment of benefits

  •    § 3819. Certificate

  •    § 3820. Conversion on termination of eligibility

  •    § 3821. Conversion on termination of policy

  •    § 3822. Death pending conversion

  •    § 3823. Notice as to conversion right

  •    § 3824. Readjustment of premium

  •    § 3825. Application of dividends, rate reductions


  • Subchapter 005A: VIATICAL SETTLEMENTS
  •    §§ 3826-3834. Repealed. 2009, No. 53, § 5, eff. January 1, 2010.


  • Subchapter 005B: LIFE SETTLEMENTS
  •    § 3835. Definitions

  •    § 3836. License and bond requirements

  •    § 3837. License revocation and denial

  •    § 3838. Approval of life settlement contracts, disclosure statements, and related forms

  •    § 3839. Reporting requirements and privacy

  •    § 3840. Investigations and examinations

  •    § 3841. Disclosure to policy owner


  • Subchapter 006: VARIABLE ANNUITIES-SEPARATE ACCOUNTS
  •    §§ 3841-3854. Repealed. 1971, No. 106, § 6, eff. April 22, 1971.

  •    § 3842. Disclosure to insurer

  •    § 3843. General rules

  •    § 3844. Prohibited practices

  •    § 3845. Prohibited practices and conflicts of interest

  •    § 3846. Advertising for life settlements

  •    § 3847. Fraud prevention and control

  •    § 3848. Civil remedies, penalties, and enforcement

  •    § 3849. Adoption of rules

  •    § 3855. Establishment of accounts

  •    § 3856. Required contents of policy

  •    § 3857. Licensing

  •    § 3858. Powers of Commissioner

  •    § 3859. Grace; reinstatement; nonforfeiture


Full Text of Chapter

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