Capacidad de Contratar Seguros para Menores de Edad

Sec. 1104.003. AUTHORITY TO CONTRACT. (a) Subject to this subchapter, a minor 14 years of age or older who is without a guardian of the estate of the minor may: (1) contract for or otherwise acquire a life, term, or endowment insurance policy or an annuity contract, including: (A) applying for the policy or contract; and (B) making agreements with respect to the policy or contract or a right, privilege, or benefit under the policy or contract; (2) exercise all rights and powers in regard to the policy or contract in the same manner as an adult; and (3) surrender an interest in the policy or contract and give a discharge for a benefit paid under the policy or contract. (b) An insurance policy acquired by a minor under this subchapter must: (1) be owned by the minor; and (2) insure the life of: (A) the minor; (B) a spouse, child, parent, grandparent, or sibling of the minor; or (C) another in whose life the minor has an insurable interest. (c) A minor who acquires an annuity contract under this subchapter is the annuitant of the contract during the minor's life. (d) A minor who acquires an insurance policy or an annuity contract under this subchapter, the estate of the minor, or a spouse, child, parent, grandparent, or sibling of the minor must be the beneficiary of the policy or, in the case of an annuity contract, of the death benefit of the contract. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.