Texas Insurance Code Title 7, Chapter 1151 - Industrial Life Insurance

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 1151.001 - Definition
  In this chapter, "industrial life insurance" means life insurance under which the premiums are payable: (1) weekly; or (2) less often than weekly but at...
• Texas Section 1151.002 - General Applicability Of Chapter
  (a) Except as provided by other law, this chapter controls the form and content of an industrial life insurance policy delivered or issued for delivery...
• Texas Section 1151.003 - Applicability Of Chapter To Policy Providing Accident And Health Benefits
  Except as otherwise provided by this chapter, if an industrial life insurance policy provides accident and health benefits in addition to natural death benefits, this...
• Texas Section 1151.004 - Certain Associations Excepted
  This chapter does not apply to any of the following associations operating under Chapter 886: (1) a local mutual aid association; (2) a statewide mutual...

SUBCHAPTER B REQUIRED POLICY PROVISIONS

• Texas Section 1151.005 - Certain Nonprofit Organizations Excepted
  This chapter does not apply to: (1) an order, society, association, or labor organization that: (A) admits to membership only persons engaged in one or...
• Texas Section 1151.051 - Policy Title
  An industrial life insurance policy must contain a title on the face of the policy that: (1) briefly describes the form of the policy; and...
• Texas Section 1151.052 - Entire Contract
  (a) An industrial life insurance policy must provide that the policy is the entire contract between the parties, except that at the option of the...
• Texas Section 1151.053 - Agent Unauthorized To Waive Or Change Terms
  An industrial life insurance policy must provide that an agent may not waive or change the terms of an application or policy. Added by Acts...
• Texas Section 1151.054 - Statement Made By Or On Behalf Of Insured
  An industrial life insurance policy must provide that, in the absence of fraud, a statement made by the insured or on behalf of the insured...
• Texas Section 1151.055 - Incontestability Of Policy
  An industrial life insurance policy must provide that, after the policy has been in force for two years from its date of issue during the...
• Texas Section 1151.056 - Adjustment Of Amount Payable If Age Of Insured Is Misstated
  An industrial life insurance policy must provide that, if the age of the insured is misstated, the amount payable under the policy is the amount...
• Texas Section 1151.057 - Grace Period
  (a) An industrial life insurance policy must provide that the insured is entitled to a grace period stated in the policy within which any premium...
• Texas Section 1151.058 - Nonforfeiture Benefits And Cash Surrender Values In General
  An industrial life insurance policy must provide, in case of default in payment of premiums, nonforfeiture benefits and cash surrender values in accordance with: (1)...
• Texas Section 1151.059 - Surplus
  An industrial life insurance policy that is a participating policy must provide that the insurer shall annually determine and apportion any divisible surplus accruing on...
• Texas Section 1151.060 - Claim Based On Death Of Insured
  An industrial life insurance policy must provide that if a claim arises as the result of the death of the insured, the insurer shall settle...
• Texas Section 1151.061 - Reinstatement Of Policy
  (a) An industrial life insurance policy must provide that unless the cash surrender value has been paid or the term of extended insurance has expired,...

SUBCHAPTER C AUTHORIZED OR PROHIBITED POLICY PROVISIONS

• Texas Section 1151.062 - Exception For Policies Issued Or Granted Under Certain Nonforfeiture Provisions
  This subchapter does not apply to a policy issued or granted under a nonforfeiture provision prescribed by Section 1151.058. Added by Acts 2001, 77th Leg.,...
• Texas Section 1151.101 - Authorized Provisions
  In addition to the provisions required by Subchapter B and Section 1151.152, an industrial life insurance policy may: (1) exclude liability or promise a benefit...

SUBCHAPTER D RIGHTS OF INSURED UNDER CERTAIN OLDER POLICIES

• Texas Section 1151.102 - Prohibited Provisions
  (a) An industrial life insurance policy may not: (1) require a cause of action based on the policy to be initiated before the second anniversary...
• Texas Section 1151.151 - Extended Term Or Paid-up Insurance For Certain Policies
  (a) This section applies only to a policy delivered or issued for delivery in this state before March 29, 1941, under former Article 3.43 of...
• Texas Section 1151.152 - Provisions Concerning Stipulated Form Of Insurance Or Specified Cash Surrender Value In Certain Policies
  (a) An industrial life insurance policy issued before the date described by Section 1151.058(2) must contain a provision substantially as follows: (1) in case of...
• Texas Section 1151.153 - Computation Of Net Value Of Stipulated Form Of Insurance Or Specified Cash Surrender Value
  (a) The net value of the stipulated form of insurance or the specified cash surrender value available under Section 1151.152 may not be less than...
• Texas Section 1151.154 - Surrender Of Policy For Specified Cash Surrender Value
  (a) An industrial life insurance policy issued before the date described by Section 1151.058(2) under which the insured applies for cash surrender value must be...

Last modified: September 28, 2016