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Home / Opinion Digests / Company Can Sue for ‘Key Man’ Policy Benefits (access required)

Company Can Sue for ‘Key Man’ Policy Benefits (access required)

A medical company that owned a $500,000 “key man” life insurance policy on an employee may sue the insurance company for breach of contract after the carrier refused to pay death benefits and claimed the policy had been cancelled for nonpayment of premiums; although Va. Code § 38.2-232 does not create a private right of ...

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