Texas Insurance Code

§ 1101.205 — DISCLOSURE OF CREDITED INTEREST RATE DECREASE AFTER ISSUANCE OF POLICY

IN § 1101.205Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1101. LIFE INSURANCE · Art. E. DISCLOSURES AND NOTICES RELATING TO LIFE INSURANCE POLICIES WITH NON-GUARANTEED CHARGES

Statute text

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(a)If an insurer decreases the credited interest rate paid on a policy's accumulation value, the insurer must provide annually a written notice to the policy owner:

(1)disclosing:

(A)the new current credited interest rate;

(B)the previous credited interest rate;

(C)the minimum credited interest rate stated in the policy; and

(D)the effective date of the change; and

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Legislative history

Added by Acts 2019, 86th Leg., R.S., Ch. 1026 (H.B. 207), Sec. 1, eff. September 1, 2019.