Período de gracia en pólizas de seguro de vida

Sec. 1101.005. GRACE PERIOD. (a) Except as provided by Subsection (b), a life insurance policy: (1) must contain a provision for a grace period of at least one month for the payment of each premium after the first payment during which the policy remains in force; and (2) may: (A) provide for an interest charge on a premium paid during a grace period; or (B) provide that if an insured dies during a grace period the overdue premium will be deducted from any settlement made under the policy. (b) The commissioner by rule may require a life insurance Statute text rendered on: - 1744 - 10/18/2024 INSURANCE CODE policy issued under Section 884.402(3) to contain a grace period that is longer than the grace period required by this section. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.