The Virginia Port Authority may purchase group life, accidental death and dismemberment, and disability insurance policies covering in whole or in part its employees who elect to participate in any retirement plan established under the provisions of § 51.1-126.4. In addition, the Authority may increase the coverage under such policies to make available to each active insured employee optional life and accidental death and dismemberment insurance as provided in § 51.1-512. All eligible employees of the Authority shall be covered by the policies purchased by the Authority as soon as such policies become effective and may not elect to be covered by the Board‘s group insurance program under § 51.1-501, nor shall they be required to present at their own expense evidence of insurability satisfactory to an insurance company upon changing from one form of coverage to another provided by this chapter. No other section of this chapter shall apply to insurance coverage offered by the Authority to which this section applies except §§ 51.1-510 and 51.1-511.

Terms Used In Virginia Code 51.1-502.3

  • Board: means the Board of Trustees of the Virginia Retirement System. See Virginia Code 51.1-500
  • Company: means insurance company. See Virginia Code 51.1-500
  • Dismemberment: means a dismemberment covered under the group insurance coverage purchased by the Board. See Virginia Code 51.1-500
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • insurance program: means the plan covered under the policy purchased by the Board which provides group life, accidental death, and dismemberment insurance coverage for employees. See Virginia Code 51.1-500

1997, c. 232.

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