196ALife insurance

196A Life insurance

(1) Subject to section 196B, life insurance is any insurance in respect of—

(a) a life or lives; or

(b) an event or contingency relating to or depending on a life or lives—

of a person who is, or persons who are, domiciled in Victoria at the time the insurance policy is issued, but does not include insurance against accident.

(2) Insurance against accident is any insurance under which payment is agreed to be made on the death of a person only from accident or violence or otherwise from a natural cause or as compensation for personal injury.

S. 196B inserted by No. 40/2014 s. 7.