Texas Insurance Code Title 7, Chapter 1103 - Life Insurance Policy Beneficiaries

SUBCHAPTER A STATUTORY LIFE INSURANCE BENEFICIARIES; INSURABLE INTEREST

• Texas Section 1103.001 - Applicability Of Subchapter
  This subchapter applies only to a life insurance policy issued by a legal reserve life insurance company. Added by Acts 2001, 77th Leg., ch. 1419,...
• Texas Section 1103.002 - Insurable Interest Of Beneficiary
  A beneficiary described by this subchapter who is designated in a life insurance policy has an insurable interest for the face amount of the policy...
• Texas Section 1103.003 - Corporation, Joint Stock Association, Or Trust Estate As Beneficiary
  A corporation, a joint stock association, or a trust estate that is engaging in business for profit may be designated as a beneficiary in a...
• Texas Section 1103.004 - Partnership Or Partner As Beneficiary
  A partnership or a member of a partnership may be designated as a beneficiary in a policy that insures the life of a member of...

SUBCHAPTER B DESIGNATION OF BENEFICIARY OR OWNER OF LIFE INSURANCE POLICY; INSURABLE INTEREST

• Texas Section 1103.005 - Religious, Educational, Eleemosynary, Charitable, Or Benevolent Institution Or Undertaking As Beneficiary
  A religious, educational, eleemosynary, charitable, or benevolent institution or undertaking may be designated as a beneficiary in a policy that insures the life of an...
• Texas Section 1103.051 - Applicability Of Subchapter
  This subchapter applies only to a life insurance policy issued by: (1) a legal reserve life insurance company; or (2) a mutual assessment life insurance...
• Texas Section 1103.052 - Liberal Construction
  This subchapter shall be liberally construed to implement the purposes of this subchapter. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June...
• Texas Section 1103.053 - Insurable Interest Of Beneficiary, Owner, Transferee, Or Assignee
  (a) Except as provided by Subsection (b), a beneficiary or owner of a life insurance policy who is designated in accordance with this subchapter or...
• Texas Section 1103.054 - Designation Of Beneficiary Or Owner In Policy Application
  An individual of legal age may: (1) apply for a policy insuring the individual's life; and (2) designate in writing in the application for the...
• Texas Section 1103.055 - Designation Of Beneficiary Of Policy; Transfer Or Assignment Of Policy Or Interest
  An individual of legal age who is insured under a life insurance policy may in writing: (1) in a manner and to the extent permitted...

SUBCHAPTER C PAYMENT OF PROCEEDS

• Texas Section 1103.056 - Purchase Of Or Application For Policy By Third Party
  An individual of legal age may in a single written document: (1) consent to the purchase of or application for an individual or group life...
• Texas Section 1103.101 - Applicability Of Subchapter
  This subchapter applies only to a life insurance policy issued by a legal reserve life insurance company. Added by Acts 2001, 77th Leg., ch. 1419,...
• Texas Section 1103.102 - Payment To Designated Beneficiary
  (a) Except as provided by Subsection (b) or (c), if an individual obtains a policy insuring the individual's life, designates in writing a beneficiary to...
• Texas Section 1103.103 - Discharge Of Liability
  In the absence of notice under Section 1103.102(b) received by the company before the date of payment, a company that issues a life insurance policy...

SUBCHAPTER D FORFEITURE OF BENEFICIARY'S RIGHTS

• Texas Section 1103.104 - Interest On Proceeds
  (a) Interest on the proceeds of a life insurance policy accrues from the date the company that issues the policy receives due proof of loss...
• Texas Section 1103.151 - Forfeiture
  A beneficiary of a life insurance policy or contract forfeits the beneficiary's interest in the policy or contract if the beneficiary is a principal or...
• Texas Section 1103.152 - Payment Of Proceeds To Contingent Beneficiary Or To Relative
  (a) Except as provided by Subsection (b), if a beneficiary of a life insurance policy or contract forfeits an interest in the policy or contract...

Last modified: September 28, 2016