1151.060 – CLAIM BASED ON DEATH OF INSURED. An industrial
Texas Insurance Code § 1151.060
Summary
This law mandates that industrial life insurance policies must settle claims related to the death of the insured within two months after receiving satisfactory proof of death and claimant rights. It ensures timely payment to beneficiaries, promoting financial security during a difficult time.
Claims must be settled within two months of proof submission.
Insurers require satisfactory proof of death and claimant rights.
Applies specifically to industrial life insurance policies.
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In simple terms: Learn about Texas's CLAIM BASED ON DEATH OF INSURED. An industrial 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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