1201.010 – THIRD-PARTY OWNERSHIP OF POLICY. The use of
Texas Insurance Code § 1201.010
Summary
This law allows individuals with an insurable interest to apply for and own health insurance policies on others. It clarifies that the term 'insured' does not limit ownership to the insured person alone, enabling third parties to benefit from the policy.
Allows third parties to own health insurance policies.
Third parties must have an insurable interest in the insured.
Entitles third parties to benefits from the policy.
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In simple terms: Learn about Texas's THIRD-PARTY OWNERSHIP OF POLICY. The use 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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