Sec. 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) Sections 1151.152-1151.154; or
(2) Chapter 1105, for a policy issued on or after the date determined under Section 1105.002(a) or (b), as applicable.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle C - Specialized Coverages
Chapter 1151 - Industrial Life Insurance
Subchapter B. Required Policy Provisions
Section 1151.051. Policy Title
Section 1151.052. Entire Contract
Section 1151.053. Agent Unauthorized to Waive or Change Terms
Section 1151.054. Statement Made by or on Behalf of Insured
Section 1151.055. Incontestability of Policy
Section 1151.056. Adjustment of Amount Payable if Age of Insured Is Misstated
Section 1151.057. Grace Period
Section 1151.058. Nonforfeiture Benefits and Cash Surrender Values in General
Section 1151.060. Claim Based on Death of Insured
Section 1151.061. Reinstatement of Policy
Section 1151.062. Exception for Policies Issued or Granted Under Certain Nonforfeiture Provisions