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Texas Insurance Code - INS § 1131.005. Guaranteeing Issuance of Life Insurance Policy Without Evidence of Insurability

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

(a) In this section, “qualified pension or profit-sharing plan” means a plan that meets the requirements of:

(1) Section 401 or 403, Internal Revenue Code of 1986, and their subsequent amendments; or

(2) any corresponding provisions of prior or subsequent United States revenue laws.

(b) This code does not prohibit a life insurance company authorized to engage in the business of insurance in this state from guaranteeing to issue individual life insurance policies insuring participants in a qualified pension or profit-sharing plan on other than the term plan without evidence of insurability.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1131.005. Guaranteeing Issuance of Life Insurance Policy Without Evidence of Insurability - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1131-005/

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