1101.009 – POLICY LOANS. (a) The following policies are
Texas Insurance Code § 1101.009
Summary
This section outlines the types of insurance policies that are exempt from compliance with policy loan regulations. It primarily affects insurers and policyholders by clarifying which policies do not offer cash value or nonforfeiture benefits.
Exempts term life insurance from policy loan requirements.
Pure endowment contracts are also exempt.
Policies without cash or nonforfeiture values are not subject to this section.
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In simple terms: Learn about Texas's POLICY LOANS. (a) The following policies are 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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