Tex. Ins. Code § 1101.156 · Subchapter D. RIGHTS OF INSURED UNDER CERTAIN OLDER POLICIES
PURCHASE OF OTHER INSURANCE AND REINSTATEMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A life insurance policy to which this subchapter applies must provide that if there is a default in premium payments, the value of the policy shall be applied to the purchase of other insurance and the original life insurance policy may be reinstated within three years after the date of default if:
(1) other insurance purchased with the value of the original life insurance policy remains in force;
(2) the original life insurance policy has not been surrendered to the company and canceled;
(3) the company receives evidence of insurability that is satisfactory to the company; and
(4) the arrears of premiums are paid with interest.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1101.htm
- Text hash
- sha256 6ea217db09bc1c39f67f3f482eea4b473c2426d88e08f87154f4544ed67aa084
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 1101.156. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.