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Texas Insurance Code - INS § 1111.052. Authority to Pay Accelerated Term Life Benefits

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

An insurer may pay an accelerated benefit under an individual or group term life insurance policy or certificate if:

(1) the insurer has received a written medical opinion, satisfactory to the insurer, that the insured has:

(A) a terminal illness;

(B) a long-term care illness; or

(C) an illness or physical condition that is likely to cause permanent disability or premature death, including:

(i) acquired immune deficiency syndrome (AIDS);

(ii) a malignant tumor;

(iii) a condition that requires an organ transplant; or

(iv) a coronary artery disease that results in acute infarction or requires surgery; and

(2) the amount of the accelerated benefit is deducted from:

(A) the amount of the death benefit payable under the policy or certificate; and

(B) any amount the insured would otherwise be entitled to convert to an individual contract.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1111.052. Authority to Pay Accelerated Term Life Benefits - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1111-052/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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