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Texas Insurance Code - INS § 887.205. Life Insurance Certificate Beneficiaries

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

(a) An association may pay death benefits only to:

(1) a member's spouse;

(2) a member's relative by blood to the fourth degree or by marriage to the third degree;

(3) a person actually dependent on the member;

(4) a creditor, estate, or other person with an insurable interest;  or

(5) a purely charitable or religious institution.

(b) A beneficiary of a life insurance certificate forfeits the beneficiary's interest in the certificate if the beneficiary is the principal or an accomplice in wilfully bringing about the death of the insured.  The nearest relative of the insured is entitled to the proceeds of an insurance certificate forfeited under this subsection.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 887.205. Life Insurance Certificate Beneficiaries - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-887-205/

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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