Texas Statutes and Rules Pertinent to Life Insurance Only
A Texas group life plan includes an accelerated benefit. Who receives the accelerated payment?
Answer and explanation
Answer: B. An accelerated benefit is a living benefit. It is paid to the covered person or certificate holder on proof of the qualifying condition and reduces the group death benefit later payable.Source: Texas Insurance Code — Tex. Ins. Code ch. 1131, accelerated benefits under group life coverage
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