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Texas Insurance Code - INS § 1152.109. Variable Benefits Provisions

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

(a) A contract providing benefits payable in variable amounts that is delivered or issued for delivery in this state must state the essential features of the procedures the insurance company will follow in determining the dollar amount of the variable benefits.

(b) A contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued under that group contract, must state:

(1) on its first page, that the benefits under the contract are on a variable basis;  and

(2) that the dollar amount will vary.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1152.109. Variable Benefits Provisions - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1152-109/

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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