Tex. Insurance Code § 887.401
This is the official text of Tex. Insurance Code § 887.401, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 887.401. RESERVES ON INDIVIDUAL LIFE INSURANCE CERTIFICATES.
Official statutory text
(a) An association shall reserve an individual life insurance certificate insuring one or more persons at individual premiums for each person as provided by this section.
(b) An association shall maintain reserves on each of its individual life insurance certificates in accordance with the reserve standard adopted by the association and approved by the commissioner. The standard must provide reserves that in the aggregate are at least equal to the reserve amounts computed using the 1956 Chamberlain Reserve Table with interest not to exceed 3-1/2 percent a year. An association may use the 1956 Chamberlain Reserve Table with interest not to exceed 3-1/2 percent a year.
(b) An association shall maintain reserves on each of its individual life insurance certificates in accordance with the reserve standard adopted by the association and approved by the commissioner. The standard must provide reserves that in the aggregate are at least equal to the reserve amounts computed using the 1956 Chamberlain Reserve Table with interest not to exceed 3-1/2 percent a year. An association may use the 1956 Chamberlain Reserve Table with interest not to exceed 3-1/2 percent a year.
Status: in_force · Read it on the official government site
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