1151.061 – REINSTATEMENT OF POLICY. (a) An industrial
Texas Insurance Code § 1151.061
Summary
This law mandates that industrial life insurance policies allow for reinstatement within a specified time frame after a premium payment default. Insured individuals can reinstate their policy by paying overdue premiums and any other debts owed to the insurer.
Reinstatement allowed within one year of premium default.
Requires payment of all overdue premiums.
Insurer may extend reinstatement period up to 52 weeks.
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In simple terms: Learn about Texas's REINSTATEMENT OF POLICY. (a) 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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