1101.153 – COMPUTATION OF NET VALUE OF STIPULATED FORM OF
Texas Insurance Code § 1101.153
Summary
This law outlines how to calculate the net value of a life insurance policy when premium payments are in default. It primarily affects insurance companies and policyholders by establishing a formula for determining the policy's value at the time of default.
Net value equals reserve minus specific deductions.
Applies when premium payments are in default.
Limits deductions to two and one-half percent of insured amount.
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In simple terms: Learn about Texas's COMPUTATION OF NET VALUE OF STIPULATED FORM OF 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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