Texas Insurance Code

§ 1107.107 — COMPUTATIONS NOT AFFECTED BY ADDITIONAL BENEFITS

IN § 1107.107Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1107. STANDARD NONFORFEITURE LAW FOR CERTAIN ANNUITIES · Art. C. VALUE OF NONFORFEITURE BENEFITS

Statute text

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(a)Notwithstanding any other provision of this subchapter or Section 1107.006, a computation of a minimum nonforfeiture amount or of a paid-up annuity, cash surrender, or death benefit under this chapter may not include:

(1)any additional benefit that is:

(A)payable in the event of total and permanent disability;

(B)payable as a reversionary annuity or deferred reversionary annuity benefit; or

(C)payable as another policy benefit in addition to life insurance, endowment, or annuity benefits; or

(2)the considerations paid for the additional benefit.

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Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 869, Sec. 1, eff. June 20, 2003.