Valued Policy Law (VPL)

The Valued Policy Law (VPL) is a state law that allows policyholders to recover the cash surrender value of their life insurance policy in the event of death. This law is designed to protect policyholders from unscrupulous insurers who may try to deny or delay payment of death benefits.

The VPL is not a federal law, so it varies from state to state. However, most states have some form of VPL in place. In general, the VPL requires insurers to pay the cash surrender value of a life insurance policy within a certain period of time after the policyholder's death. This period of time is typically 30 days, but it may be longer in some states.

The VPL is an important consumer protection law. It helps to ensure that policyholders receive the money they are owed in the event of their death. If you have a life insurance policy, it is important to be aware of the VPL in your state. This law can help to protect you from financial hardship in the event of your death.

Here are some additional details about the VPL:

* The VPL applies to all life insurance policies, regardless of the type of policy or the amount of coverage.
* The VPL does not apply to annuities or other types of retirement plans.
* The VPL does not apply to policies that have been surrendered or lapsed.
* The VPL does not apply to policies that have been converted to another type of policy.

If you have any questions about the VPL, you should contact your insurance company.