Sec. 887.253. LIFE INSURANCE CERTIFICATE FORMS. (a) A life insurance certificate issued by an association must include:
(1) on the front page of the certificate, a definitive statement of the amount of the death benefit to be paid; and
(2) a plain statement of the circumstances or conditions under which the benefit is to be paid.
(b) A life insurance certificate must provide that if the age of the insured is misstated, the amount of insurance is the amount that the premium paid would have purchased if the age had been stated correctly, based on rates in effect when the insured dies.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies
Subchapter F. Contents of Applications and Insurance Certificates
Section 887.252. Application for Insurance Certificate
Section 887.253. Life Insurance Certificate Forms
Section 887.254. Health and Accident Insurance Certificate Forms
Section 887.255. Life Insurance Benefit Reductions and Exclusions