Texas Insurance Code

§ 884.356 — LIFE INSURANCE BENEFIT REDUCTIONS OR INCREASES

IN § 884.356Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 884. STIPULATED PREMIUM INSURANCE COMPANIES · Art. H. CONTENTS OF APPLICATIONS AND POLICIES

Statute text

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(a)A life insurance policy may provide for reduced benefits if the insured:

(1)dies or is injured while engaged in:

(A)military, naval, or aerial service or aerial flight during peace or war; or

(B)a hazardous occupation specified in the policy; or

(2)dies by the insured's own hand, regardless of whether the insured is sane or insane.

(b)The front page of a life insurance policy must call attention to any reduction or exclusion of benefits provided by the policy. The circumstances or conditions under which the reduction or exclusion applies must be stated plainly in the policy.

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Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.