Tex. Insurance Code § 1101.203
This is the official text of Tex. Insurance Code § 1101.203, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1101.203. APPLICABILITY.
Official statutory text
(a) This subchapter applies to a life insurance policy issued by an insurer, as defined by Section 1102.001, that contains non-guaranteed charges that may change at the discretion of the insurer.
(b) This subchapter does not apply to:
(1) group life insurance without separately identifiable accounts for insureds;
(2) a life insurance policy in which the insurer assumes all risk and contractually guarantees a death benefit in exchange for a guaranteed premium set at the time of the policy's issuance;
(3) an individual or group annuity contract;
(4) credit life insurance;
(5) a life insurance policy with no illustrated death benefits on any individual exceeding $10,000;
(6) a bank-owned or corporate-owned life insurance policy; or
(7) a life insurance policy that does not provide for cash values or nonforfeiture values.
(b) This subchapter does not apply to:
(1) group life insurance without separately identifiable accounts for insureds;
(2) a life insurance policy in which the insurer assumes all risk and contractually guarantees a death benefit in exchange for a guaranteed premium set at the time of the policy's issuance;
(3) an individual or group annuity contract;
(4) credit life insurance;
(5) a life insurance policy with no illustrated death benefits on any individual exceeding $10,000;
(6) a bank-owned or corporate-owned life insurance policy; or
(7) a life insurance policy that does not provide for cash values or nonforfeiture values.
Status: in_force · Read it on the official government site
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