1106.002 – REINSTATEMENT REQUIRED; EXCEPTION. (a) On the
Texas Insurance Code § 1106.002
Summary
This law allows for the reinstatement of an individual life insurance policy that has lapsed due to the insured's mental incapacity, provided certain conditions are met. It primarily affects policyholders who have experienced a lapse in their insurance due to unforeseen circumstances related to their mental health.
Reinstatement applies after a lapse due to mental incapacity.
Policy must have been active for at least five years.
No prior payment defaults are allowed for reinstatement.
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In simple terms: Learn about Texas's REINSTATEMENT REQUIRED; EXCEPTION. (a) On the 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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