1153.156 – LIMITS ON AMOUNT OF CREDIT ACCIDENT AND HEALTH
Texas Insurance Code § 1153.156
Summary
This law limits the indemnity payments from credit accident and health insurance to the total debt amount under the credit contract. It ensures that periodic payments do not exceed the scheduled installment payments on the debt, protecting consumers from excessive insurance payouts.
Indemnity cannot exceed total debt amount.
Periodic payments are capped at installment amounts.
Affects credit accident and health insurance policies.
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In simple terms: Learn about Texas's LIMITS ON AMOUNT OF CREDIT ACCIDENT AND HEALTH 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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