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Texas Insurance Code - INS § 1101.203. Applicability

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) This subchapter applies to a life insurance policy issued by an insurer, as defined by Section 1102.001, that contains non-guaranteed charges that may change at the discretion of the insurer.

(b) This subchapter does not apply to:

(1) group life insurance without separately identifiable accounts for insureds;

(2) a life insurance policy in which the insurer assumes all risk and contractually guarantees a death benefit in exchange for a guaranteed premium set at the time of the policy's issuance;

(3) an individual or group annuity contract;

(4) credit life insurance;

(5) a life insurance policy with no illustrated death benefits on any individual exceeding $10,000;

(6) a bank-owned or corporate-owned life insurance policy;  or

(7) a life insurance policy that does not provide for cash values or nonforfeiture values.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1101.203. Applicability - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1101-203/

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