1131.109 – PERSON TO WHOM BENEFITS ARE PAYABLE. (a) A
Texas Insurance Code § 1131.109
Summary
This law mandates that group life insurance policies specify that death benefits are payable to the designated beneficiary or their assignee. It also outlines conditions under which benefits may not be paid if the beneficiary is deceased at the time of the insured's death or if the insurer has reserved certain rights in the policy.
Benefits go to the designated beneficiary or assignee.
Conditions apply if the beneficiary is deceased.
Insurer may reserve rights affecting payment.
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In simple terms: Learn about Texas's PERSON TO WHOM BENEFITS ARE PAYABLE. (a) 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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