Texas Statutes and Rules Pertinent to Life Insurance Only
For a replacement transaction subject to Texas Insurance Code §1114.053(e), what return-right notice must the replacing insurer provide to the policy or contract owner?
Answer and explanation
Answer: D. Section 1114.053(e) requires notice of the 30-day return right after delivery. It specifies full premiums or considerations including fees for ordinary contracts, with a different cash-surrender-value-plus-charges formula for variable or market-value-adjustment contracts. This section alone does not establish the old claimed mandatory cover-page placement.Source: Texas Insurance Code — §1114.053(e)
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