1105.007 – or 1105.151, as applicable, on the cash surrender values
Texas Insurance Code § 1105.007
Summary
This law outlines how nonforfeiture values are calculated for certain insurance policies, ensuring consistency in the percentage applied each year. It primarily affects insurance companies and policyholders by regulating the cash surrender values available after a policy is in force for a specified duration.
Establishes nonforfeiture factors for insurance policies.
Requires a consistent percentage for cash values each policy year.
Applies to policies after the second anniversary up to specified anniversaries.
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In simple terms: Learn about Texas's or 1105.151, as applicable, on the 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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