1101.004 – PREMIUMS PAYABLE IN ADVANCE. A life insurance
Texas Insurance Code § 1101.004
Summary
This law mandates that life insurance policies require premiums to be paid in advance, either at the insurer's home office or to an authorized agent. It ensures that policyholders have clear instructions on where and how to make premium payments.
Premiums must be paid in advance for life insurance policies.
Payments can be made at the insurer's home office or to an agent.
A signed receipt from a company officer is required for agent payments.
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In simple terms: Learn about Texas's PREMIUMS PAYABLE IN ADVANCE. A life insurance law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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