1153.160 – TERMINATION OF CREDIT INSURANCE. (a) The term
Texas Insurance Code § 1153.160
Summary
This law mandates that credit life and health insurance must terminate no later than 15 days after the debt's maturity date, unless it continues at no extra cost. Additionally, if a debt is refinanced or renewed, existing insurance must end before new coverage can be issued.
Insurance must terminate 15 days post debt maturity unless free coverage continues.
Existing insurance must end before issuing new coverage on refinanced debt.
Applies to credit life and health insurance linked to debts.
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In simple terms: Learn about Texas's TERMINATION OF CREDIT INSURANCE. (a) The term 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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