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Texas Insurance Code - INS § 885.309. Nonforfeiture Benefits

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

(a) The value of a nonforfeiture benefit provided under a benefit certificate issued before January 1, 2001, must comply with the law applicable to the certificate immediately before that date.

(b) The value of a nonforfeiture benefit provided under a benefit certificate issued on or after January 1, 2001, is computed as provided under:

(1) the provisions of Chapters 1105 and 1107 applicable to life insurance companies issuing policies containing similar benefits;  and

(2) the applicable tables required by those chapters.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 885.309. Nonforfeiture Benefits - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-885-309/

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