Texas — Statute

1107.057 – MINIMUM NONFORFEITURE AMOUNT. (a) The minimum | Texas Law

Learn about Texas's MINIMUM NONFORFEITURE AMOUNT. (a) The minimum law, including definitions, penalties, and legal implications.

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Texas State Law

1107.057 – MINIMUM NONFORFEITURE AMOUNT. (a) The minimum

Texas Insurance Code § 1107.057

Summary

This law establishes the minimum nonforfeiture amounts for paid-up annuities, cash surrender, or death benefits under annuity contracts. It ensures that policyholders receive a guaranteed minimum value if they choose to surrender their annuity or if it matures before payments begin.

Defines minimum nonforfeiture amounts for annuity contracts.

Applies to paid-up annuities, cash surrenders, and death benefits.

Ensures policyholders receive guaranteed minimum values.

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In simple terms: Learn about Texas's MINIMUM NONFORFEITURE AMOUNT. (a) The minimum 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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