Tex. Ins. Code Section 1151.058
Nonforfeiture Benefits and Cash Surrender Values in General

An industrial life insurance policy must provide, in case of default in payment of premiums, nonforfeiture benefits and cash surrender values in accordance with:

(1)

Sections 1151.152-1151.154; or

(2)

Chapter 1105 (Standard Nonforfeiture Law for Life Insurance), for a policy issued on or after the date determined under Section 1105.002 (Applicability of Chapter)(a) or (b), as applicable.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Source: Section 1151.058 — Nonforfeiture Benefits and Cash Surrender Values in General, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1151.htm#1151.058 (accessed May 18, 2024).

1151.001
Definition 1151.002
General Applicability of Chapter 1151.003
Applicability of Chapter to Policy Providing Accident and Health Benefits 1151.004
Certain Associations Excepted 1151.005
Certain Nonprofit Organizations Excepted 1151.051
Policy Title 1151.052
Entire Contract 1151.053
Agent Unauthorized to Waive or Change Terms 1151.054
Statement Made by or on Behalf of Insured 1151.055
Incontestability of Policy 1151.056
Adjustment of Amount Payable if Age of Insured Is Misstated 1151.057
Grace Period 1151.058
Nonforfeiture Benefits and Cash Surrender Values in General 1151.059
Surplus 1151.060
Claim Based on Death of Insured 1151.061
Reinstatement of Policy 1151.062
Exception for Policies Issued or Granted Under Certain Nonforfeiture Provisions 1151.101
Authorized Provisions 1151.102
Prohibited Provisions 1151.151
Extended Term or Paid-up Insurance for Certain Policies 1151.152
Provisions Concerning Stipulated Form of Insurance or Specified Cash Surrender Value in Certain Policies 1151.153
Computation of Net Value of Stipulated Form of Insurance or Specified Cash Surrender Value 1151.154
Surrender of Policy for Specified Cash Surrender Value

Accessed:
May 18, 2024

§ 1151.058’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._ins._code_section_1151.058

Original Source: Section 1151.058 — Nonforfeiture Benefits and Cash Surrender Values in General, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1151.htm#1151.058 (last accessed May 18, 2024).