1107.104 – COMPUTATION OF DEATH BENEFIT. The value of a
Texas Insurance Code § 1107.104
Summary
This law mandates that the death benefit from an annuity contract must be at least equal to the cash surrender value. It ensures that beneficiaries receive a minimum level of financial protection upon the annuitant's death. This affects insurance companies and policyholders with annuity contracts that include cash surrender benefits.
Death benefit must equal or exceed cash surrender value.
Applies to annuity contracts with cash surrender benefits.
Protects beneficiaries' financial interests upon death.
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In simple terms: Learn about Texas's COMPUTATION OF DEATH BENEFIT. The value of a 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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