Texas Insurance Code
§ 1105.011 — INCLUSION OF CERTAIN ADDITIONAL BENEFITS IN COMPUTING NONFORFEITURE BENEFITS NOT REQUIRED
IN § 1105.011Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1105. STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)Notwithstanding Section 1105.007 or 1105.008, additional benefits described by Subsection (b), and premiums for those benefits, may not be included in computing a cash surrender value or nonforfeiture benefits required by this chapter. Additional benefits described by Subsection (b) are not required to be included in any paid-up nonforfeiture benefits.
(b)This section applies to additional benefits payable:
(1)in the event of death or dismemberment by accident;
(2)in the event of total and permanent disability;
(3)as reversionary annuity or deferred reversionary annuity benefits;
(4)as term insurance benefits provided by a rider or supplemental policy provision to which, if issued as a separate policy, this chapter would not apply;
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.