1110.004 – MAXIMUM INTEREST RATE ON POLICY LOANS. (a) In
Texas Insurance Code § 1110.004
Summary
This law establishes the maximum interest rate that can be charged on policy loans for life insurance policies in Texas. It ensures that the rates are based on a published average, protecting policyholders from excessively high interest rates.
Sets maximum interest rates for life insurance policy loans.
Rates are based on Moody's Corporate Bond Yield Average.
Protects consumers from high borrowing costs on policy loans.
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In simple terms: Learn about Texas's MAXIMUM INTEREST RATE ON POLICY LOANS. (a) In 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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