Tex. Ins. Code § 887.403 · Subchapter I. RESERVES
ISSUE YEAR AND ISSUE AGE IN CERTAIN INSURANCE CERTIFICATES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "gross premium" means the renewal net premium plus any expense loading designated by the association or as otherwise regulated by this chapter.
(b) For an individual or family group life insurance certificate in force on December 31, 1965, or an individual or family group life insurance certificate with a rate increase effective after December 31, 1965, the reserves may be computed as if:
(1) the issue year is the last calendar year that the gross premium computed using the reserve table and interest rate adopted by the association at the insured's age in that calendar year is equal to or less than the premium rate charged by the association on the reserved certificate; and
(2) the issue age is the insured's age in the calendar year under Subdivision (1).
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, 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.887.htm
- Text hash
- sha256 0fbbd28ad83831385c999c3d5691338f3069ea8468c7d70e43eb71a0ab81bbb3
- 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
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.