1105.054 – COMPUTATION OF AMOUNTS FOR POLICY ISSUED ON
Texas Insurance Code § 1105.054
Summary
This law governs the calculation of premiums for insurance policies issued on a substandard basis, ensuring they align with standard policies in terms of mortality costs. It specifically addresses reduced graded amounts of insurance, impacting insurers and policyholders with substandard risk profiles.
Applies to substandard insurance policies with graded amounts.
Ensures equal mortality costs to standard policies.
Overrides conflicting provisions in the subchapter.
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In simple terms: Learn about Texas's COMPUTATION OF AMOUNTS FOR POLICY ISSUED ON 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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