1131.102 – NONFORFEITURE. (a) A group life insurance
Texas Insurance Code § 1131.102
Summary
This law mandates that group life insurance policies, excluding group term policies, include nonforfeiture provisions deemed fair by the commissioner. It ensures that insured individuals and policyholders have certain protections, although the provisions may differ from those for individual policies.
Applies to group life insurance policies, not group term policies.
Requires equitable nonforfeiture provisions as determined by the commissioner.
Does not mandate identical provisions as individual life insurance policies.
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In simple terms: Learn about Texas's NONFORFEITURE. (a) A group life insurance 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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