Virginia Code Title 38.2. Insurance § 38.2-302. Life, accident, and sickness insurance;  application required

1. Either spouse may effect an insurance contract upon each other;

2. Any person having an insurable interest in the life of a minor, or any person upon whom a minor is dependent for support and maintenance, may effect an insurance contract upon the life of or pertaining to the minor;  or

3. A corporate employer or an employee benefit trust having the insurable interest described in subdivision B 3 of § 38.2-301 may effect an insurance contract upon the lives of such employees, provided that the employer or trust provides the employee with notice in writing that such insurance has been purchased, the amount of such coverage, and to whom benefits are payable in the event of the employee's death.