Sec. 1131.107. ADJUSTMENT OF PREMIUMS OR BENEFITS IF AGE OF INSURED IS MISSTATED. (a) A group life insurance policy must specify an equitable adjustment of premiums, benefits, or both, to be made if the age of an insured has been misstated.
(b) The provision required by Subsection (a) must contain a clear statement of the method of adjustment to be used.
(c) This section does not apply to a policy to which Section 1131.703 applies.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle B - Group Life Insurance
Chapter 1131 - Group Life Insurance and Wholesale, Franchise, or Employee Life Insurance
Subchapter C. Group Life Insurance: Required Provisions
Section 1131.101. Required Provisions
Section 1131.102. Nonforfeiture
Section 1131.103. Grace Period
Section 1131.104. Incontestability of Policy
Section 1131.105. Application for Policy; Statements of Insured
Section 1131.106. Evidence of Insurability
Section 1131.107. Adjustment of Premiums or Benefits if Age of Insured Is Misstated
Section 1131.108. Insurance Certificate
Section 1131.109. Person to Whom Benefits Are Payable
Section 1131.110. Right to Individual Policy on Termination of Employment or Membership
Section 1131.112. Payment of Benefits on Death of Insured Before Individual Policy Becomes Effective