1105.012 – PROGRESSION OF CASH SURRENDER VALUES. (a) This
Texas Insurance Code § 1105.012
Summary
This law regulates the cash surrender values for certain insurance policies issued after January 1, 1985. It ensures that the cash surrender value does not vary significantly from the insurance amount, providing policyholders with predictable financial outcomes upon policy default.
Applies to policies issued after January 1, 1985.
Limits cash surrender value variation to 0.2% of insurance amount.
Ensures financial predictability for policyholders upon default.
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In simple terms: Learn about Texas's PROGRESSION OF CASH SURRENDER VALUES. (a) This 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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