Sec. 1551.254. ACCELERATED LIFE INSURANCE BENEFITS. (a) In addition to exercising the authority granted under Subchapter B, Chapter 1111, the board of trustees may adopt rules to provide for payment of accelerated life insurance benefits to a terminally ill, terminally injured, or permanently disabled participant, including an annuitant participating in optional term life insurance coverage, in amounts that benefit the participant without increasing the cost of providing the benefits.
(b) The amount of any payment of an accelerated benefit under a rule adopted under this section must be deducted from the amount that would otherwise be payable as a death benefit.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 3, eff. June 1, 2003.
Structure Texas Statutes
Title 8 - Health Insurance and Other Health Coverages
Subtitle H - Health Benefits and Other Coverages for Governmental Employees
Chapter 1551 - Texas Employees Group Benefits Act
Subchapter F. Group Life and Accidental Death and Dismemberment Insurance Coverage Plan
Section 1551.251. Group Life Insurance Coverage Plan
Section 1551.252. Additional Term Life Insurance
Section 1551.253. Determination of Annual Salary
Section 1551.254. Accelerated Life Insurance Benefits
Section 1551.255. Inclusion of Provisions for Viatical Settlements
Section 1551.256. Optional Term Life Insurance Coverage After Retirement
Section 1551.257. Eligibility of Annuitant for Extended Insurance Benefits
Section 1551.258. Termination of Accidental Death and Dismemberment Insurance Coverage on Retirement
Section 1551.259. Order of Precedence of Payment to Survivors