Tex. Insurance Code § 1151.057
This is the official text of Tex. Insurance Code § 1151.057, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1151.057. GRACE PERIOD.
Official statutory text
(a) An industrial life insurance policy must provide that the insured is entitled to a grace period stated in the policy within which any premium after the first premium may be paid. The grace period must be at least a four-week period.
(b) During the grace period the policy continues in effect, but if an event under which the insurer may be liable under the policy occurs during the grace period and before the overdue premiums are paid, the amount of the overdue premiums may be deducted in a settlement made under the policy.
(b) During the grace period the policy continues in effect, but if an event under which the insurer may be liable under the policy occurs during the grace period and before the overdue premiums are paid, the amount of the overdue premiums may be deducted in a settlement made under the policy.
Status: in_force · Read it on the official government site
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