1107.105 – COMPUTATION OF BENEFITS AVAILABLE AT THE TIME
Texas Insurance Code § 1107.105
Summary
This law outlines how to calculate the benefits available from an annuity contract on dates other than the contract's anniversary. It affects policyholders and insurers by specifying the method for determining values like paid-up annuities and cash surrenders based on payments made over time.
Applies to fixed, scheduled consideration annuity contracts.
Calculates benefits based on time elapsed and payments made.
Ensures accurate benefit values outside contract anniversary dates.
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In simple terms: Learn about Texas's COMPUTATION OF BENEFITS AVAILABLE AT THE TIME 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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