1151.152 – PROVISIONS CONCERNING STIPULATED FORM OF
Texas Insurance Code § 1151.152
Summary
This law mandates that certain industrial life insurance policies include a provision for a stipulated form of insurance if premiums are defaulted after three years of payment. It ensures policyholders have access to specific benefits even in cases of non-payment, protecting their interests.
Applies to industrial life insurance policies issued before a specified date.
Requires stipulated insurance benefits after three years of premium payments.
Protects policyholders in case of premium payment defaults.
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In simple terms: Learn about Texas's PROVISIONS CONCERNING STIPULATED FORM OF 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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