Texas Insurance Code
§ 1105.101 — NONFORFEITURE BENEFITS FOR INDETERMINATE PREMIUM PLANS AND CERTAIN OTHER PLANS
IN § 1105.101Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1105. STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE · Art. C. NONFORFEITURE BENEFITS FOR CERTAIN PLANS
Statute text
View on source(a)This section applies to a plan of life insurance that:
(1)provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience; or
(2)is such that minimum values cannot be determined by a method described by Sections 1105.004-1105.009, Subchapter B, or Subchapter D.
(b)The department must be satisfied that:
(1)the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by Sections 1105.004-1105.009, Subchapter B, or Subchapter D; and
(2)the benefits and the pattern of premiums of the plan are not such as to mislead prospective policyholders or insured persons.
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.