What is the minimum age to contract for life insurance in Virginia?

In Virginia, the minimum age to enter into a life insurance contract is 15 years old. This means that individuals who are at least 15 can legally enter into contracts for life insurance, which includes the ability to apply for insurance themselves. This provision is in place to allow minors who are approaching adulthood to take responsibility for their own life insurance needs.

It is important to note that while minors can contract for life insurance, there may still be requirements for parental consent or other stipulations depending on the insurer's policies. As individuals reach the age of 18, they gain full legal capacity to enter contracts without any additional obligations. Understanding this age limit is crucial for both agents and clients to ensure they are adhering to the regulations set forth by Virginia law regarding life insurance.