Texas Family Code

§ 7.005 — INSURANCE COVERAGE NOT SPECIFICALLY AWARDED

FA § 7.005Title 1. THE MARRIAGE RELATIONSHIP · Part C. DISSOLUTION OF MARRIAGE · Ch. 7. AWARD OF MARITAL PROPERTY

Statute text

(a)If in a decree of divorce or annulment the court does not specifically award all of the rights of the spouses in an insurance policy other than life insurance in effect at the time the decree is rendered, the policy remains in effect until the policy expires according to the policy's own terms.

(b)The proceeds of a valid claim under the policy are payable as follows:

(1)if the interest in the property insured was awarded solely to one former spouse by the decree, to that former spouse;

(2)if an interest in the property insured was awarded to each former spouse, to those former spouses in proportion to the interests awarded; or

(3)if the insurance coverage is directly related to the person of one of the former spouses, to that former spouse.

(c)The failure of either former spouse to change the endorsement on the policy to reflect the distribution of proceeds established by this section does not relieve the insurer of liability to pay the proceeds or any other obligation on the policy.

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Legislative history

Added by Acts 1997, 75th Leg., ch. 7, Sec. 1, eff. April 17, 1997.