1151.001 – DEFINITION. In this chapter, "industrial life
Texas Insurance Code § 1151.001
Summary
This section defines industrial life insurance, which is characterized by premium payments made weekly or at least monthly for policies with coverage of $1,000 or less. It is relevant for insurance providers and policyholders in Texas who engage in this type of insurance arrangement.
Defines industrial life insurance based on premium payment frequency.
Premiums can be weekly or monthly for lower coverage amounts.
Applies specifically to policies with a face amount of $1,000 or less.
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In simple terms: Learn about Texas's DEFINITION. In this chapter, "industrial life 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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