1105.004[2/2] – REQUIRED NONFORFEITURE PROVISIONS. (a) A life
Texas Insurance Code § 1105.004[2/2]
Summary
This law outlines the nonforfeiture provisions for life insurance policies, ensuring that certain values and benefits are guaranteed to policyholders. It affects life insurance companies and their policyholders by specifying how benefits are calculated and what can be omitted from policies.
Values must assume no dividends or policy loans.
Inapplicable provisions can be omitted from policies.
Companies may defer payment under certain conditions.
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In simple terms: Learn about Texas's REQUIRED NONFORFEITURE PROVISIONS. (a) A life 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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