1101.056 – PRELIMINARY TERM INSURANCE OF MORE THAN ONE YEAR
Texas Insurance Code § 1101.056
Summary
This law regulates the issuance of level premium life insurance policies in Texas, specifically prohibiting policies with a preliminary term exceeding one year. It primarily affects insurance companies and policyholders seeking long-term life insurance options.
Prohibits level premium life insurance policies over one year.
Excludes certain policies from previous sections.
Applies only to policies issued before specified dates.
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In simple terms: Learn about Texas's PRELIMINARY TERM INSURANCE OF MORE THAN ONE YEAR 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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