1151.054 – STATEMENT MADE BY OR ON BEHALF OF INSURED. An
Texas Insurance Code § 1151.054
Summary
This law establishes that statements made by the insured or on their behalf in an industrial life insurance policy are treated as representations, not warranties, unless fraud is involved. This protects insured individuals by ensuring that minor inaccuracies do not void their coverage.
Statements are representations, not warranties, unless fraudulent.
Applies to industrial life insurance policies.
Protects insured from losing coverage due to minor inaccuracies.
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In simple terms: Learn about Texas's STATEMENT MADE BY OR ON BEHALF OF INSURED. An 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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