1107.003 – REQUIRED NONFORFEITURE PROVISIONS. (a) An
Texas Insurance Code § 1107.003
Summary
This law mandates that annuity contracts issued in Texas include specific nonforfeiture provisions. These provisions protect the contract holder if they stop making payments, ensuring they receive benefits that are at least as favorable as those outlined in the statute.
Annuity contracts must include required nonforfeiture provisions.
Provisions must be favorable to the contract holder.
Applies to all annuity contracts delivered in Texas.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's REQUIRED NONFORFEITURE PROVISIONS. (a) An law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.