1101.010 – NONFORFEITURE BENEFITS AND CASH SURRENDER VALUES
Texas Insurance Code § 1101.010
Summary
This law mandates that life insurance policies must include nonforfeiture benefits, such as cash surrender values, ensuring policyholders receive certain benefits even if they stop paying premiums. It applies to life insurance policies issued after specific dates outlined in related sections.
Requires life insurance policies to offer nonforfeiture benefits.
Includes provisions for cash surrender values.
Applies to policies issued after designated dates.
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In simple terms: Learn about Texas's NONFORFEITURE BENEFITS AND CASH SURRENDER VALUES 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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