Texas Insurance Code
§ 1108.051 — EXEMPTIONS FOR CERTAIN INSURANCE AND ANNUITY BENEFITS
IN § 1108.051Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1108. BENEFITS EXEMPT FROM SEIZURE · Art. B. EXEMPTIONS FROM SEIZURE
Statute text
View on source(a)Except as provided by Section 1108.053, this section applies to any benefits, including the cash value and proceeds of an insurance policy, to be provided to an insured or beneficiary under:
(1)an insurance policy or annuity contract issued by a life, health, or accident insurance company, including a mutual company or fraternal benefit society; or
(2)an annuity or benefit plan used by an employer or individual.
(b)Notwithstanding any other provision of this code, insurance or annuity benefits described by Subsection (a):
(1)inure exclusively to the benefit of the person for whose use and benefit the insurance or annuity is designated in the policy or contract; and
(2)are fully exempt from:
…
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.