Va. Code Ann. § 51.1-510 :
Chapter 5. Group Insurance Program
� 51.1-510. Insurance exempt from process
A. Except as provided in subsection B, the insurance provided for in this chapter, including any optional insurance, and all proceeds therefrom shall be exempt from levy, garnishment, and other legal process. However, the insured may make a voluntary, irrevocable assignment of his group life insurance and any individual conversion policy that may be issued upon termination of his group life insurance by executing an assignment on a form prepared by the Board of Trustees of the Virginia Retirement System.
B. From any insurance proceeds payable pursuant to this chapter to a retiree's beneficiaries, the Board may deduct any overpayment of retirement allowance paid to such retiree.
Last Amended: 2008
2008
Acts 1994, c. 883; Acts 1997, c. 273; Acts 2008, c. 354.