Sec. 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 after the date determined under Section 1105.002(a) or (b), as applicable.
(c) A level premium life insurance policy may not be issued or sold in this state by any company if the policy provides for more than one year of preliminary term insurance.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle A - Life Insurance in General
Subchapter B. Prohibited Policy Provisions
Section 1101.051. Applicability of Subchapter
Section 1101.053. Certain Limitations Periods
Section 1101.054. Retroactive Issuance or Effect; Exchange or Conversion
Section 1101.055. Settlement on Maturity Less Than Face Value
Section 1101.056. Preliminary Term Insurance of More Than One Year in Level Premium Policy