The word "insured," as used in this article, shall not be construed to prevent a person with a proper insurable interest from applying for and owning a policy covering another person or from being entitled to any indemnities, benefits and rights provided under the policy.
Third-party ownership
Va. Code Ann. § 38.2-3507, under Chapter 35. Accident and Sickness Insurance Policies..
Va. Code Ann. § 38.2-3507