Texas Insurance Code Title 7, Chapter 1101 - Life Insurance

SUBCHAPTER A REQUIRED POLICY PROVISIONS

• Texas Section 1101.001 - Applicability Of Subchapter
  This subchapter applies to a life insurance policy: (1) issued or delivered in this state; or (2) issued by a life insurance company organized under...
• Texas Section 1101.002 - Policy Provisions Required
  (a) Except as provided by this section, a life insurance policy must contain provisions that are substantially the same as the provisions required by this...
• Texas Section 1101.003 - Entire Contract
  A life insurance policy must provide that the policy or the policy and the application for the policy constitute the entire contract between the parties....
• Texas Section 1101.004 - Premiums Payable In Advance
  A life insurance policy must provide that all premiums are payable in advance at the home office of the company that issues the policy or...
• Texas Section 1101.005 - Grace Period
  (a) Except as provided by Subsection (b), a life insurance policy: (1) must contain a provision for a grace period of at least one month...
• Texas Section 1101.006 - Incontestability
  (a) Except as provided by Subsection (b), a life insurance policy must provide that a policy in force for two years from its date of...
• Texas Section 1101.007 - Statements Of Insured
  A life insurance policy must provide that, in the absence of fraud, a statement made by an insured is considered a representation and not a...
• Texas Section 1101.008 - Adjustment Of Amount Payable If Age Of Insured Is Understated
  A life insurance policy must provide that if the age of an insured has been understated, the amount payable under the policy is the amount...
• Texas Section 1101.009 - Policy Loans
  (a) The following policies are not required to comply with this section: (1) a term life insurance policy; (2) a pure endowment contract issued or...
• Texas Section 1101.010 - Nonforfeiture Benefits And Cash Surrender Values In General
  A life insurance policy must provide nonforfeiture benefits, including cash surrender values, in accordance with: (1) Subchapter D; or (2) Chapter 1105, for a policy...
• Texas Section 1101.011 - Time For Settlement Of Claim
  (a) Except as provided by Subsection (b), a life insurance policy must provide that settlement under the policy after the death of the insured will...
• Texas Section 1101.012 - Table Of Installments Of Proceeds
  A life insurance policy that provides that the policy proceeds are payable in installments must include a table that shows the amount of the installments....

SUBCHAPTER B PROHIBITED POLICY PROVISIONS

• Texas Section 1101.013 - Statement Of Maximum Amount Payable Under Family Group Life Insurance Policy
  A family group life insurance policy must clearly state: (1) the maximum amount that is payable to the payee in the policy on the death...
• Texas Section 1101.051 - Applicability Of Subchapter
  Unless otherwise provided by this subchapter, this subchapter applies to a life insurance policy: (1) issued or delivered in this state; or (2) issued by...
• Texas Section 1101.052 - Exclusion
  Unless otherwise provided by this subchapter, this subchapter does not apply to a policy issued instead of or in exchange for a policy issued before...
• Texas Section 1101.053 - Certain Limitations Periods
  A life insurance policy may not include a provision that limits the time during which an action under the policy may be commenced to a...
• Texas Section 1101.054 - Retroactive Issuance Or Effect; Exchange Or Conversion
  (a) Except as provided by Subsection (b), a life insurance policy may not contain a provision under which the policy is issued or takes effect...
• Texas Section 1101.055 - Settlement On Maturity Less Than Face Value
  (a) Except as provided by Subsection (b), a life insurance policy may not contain a provision for a settlement at maturity that is less than...

SUBCHAPTER C POLICY PROVISIONS REQUIRED BY OTHER JURISDICTIONS

• Texas Section 1101.056 - Preliminary Term Insurance Of More Than One Year In Level Premium Policy
  (a) Sections 1101.051 and 1101.052 do not apply to this section. (b) This section does not apply to a life insurance policy issued on or...

SUBCHAPTER D RIGHTS OF INSURED UNDER CERTAIN OLDER POLICIES

• Texas Section 1101.101 - Required Policy Provisions
  (a) A policy issued in this state by a life insurance company not organized under the laws of this state may contain any provision that...
• Texas Section 1101.151 - Applicability Of Subchapter
  This subchapter applies only to a life insurance policy issued before a date described by Section 1101.010(a)(2). A term life insurance policy is not required...
• Texas Section 1101.152 - Stipulated Form Of Insurance
  In case of a default in the payment of a premium after premiums have been paid for three years, a life insurance policy to which...
• Texas Section 1101.153 - Computation Of Net Value Of Stipulated Form Of Insurance
  (a) Except as provided by Subsection (c), the net value of a life insurance policy secured under Section 1101.152 must be equal to the amount...
• Texas Section 1101.154 - Surrender Of Policy For Specified Cash Surrender Value
  (a) A life insurance policy to which this subchapter applies must: (1) provide within one month after a due date for a premium, after premiums...
• Texas Section 1101.155 - Cash Value Table
  A life insurance policy to which this subchapter applies must include a table that shows in dollar amounts the cash value of the policy and...
• Texas Section 1101.156 - Purchase Of Other Insurance And Reinstatement
  A life insurance policy to which this subchapter applies must provide that if there is a default in premium payments, the value of the policy...

Last modified: September 28, 2016