Texas Statutes and Rules Pertinent to Life Insurance Only
If an insured misstates their age on a Texas life insurance application, what statutory adjustment must the insurer make upon death under TIC § 1101.007?
Answer and explanation
Answer: C. TIC § 1101.007 requires adjusting benefit payouts based on actual age and premiums paid.Source: Texas Insurance Code Chapter 1101 — § 1101.007, Misstatement of Age Adjustment
More texas statutes and rules pertinent to life insurance only questions
- Why does Texas set a minimum on any contractual limitation period for suing on a life policy?
- Within how many business days must a replacing life insurer notify the existing life insurer of a proposed replacement under 28 TAC § 3.1005?
- A delivered Texas life policy says the buyer has only five days to examine the policy. What is the compliance problem?
- A Texas group life plan includes an accelerated benefit. Who receives the accelerated payment?
- A Texas group life plan offers dependent coverage on an employee's spouse and children. Who is ordinarily the beneficiary of the dependent's benefit?
- A Texas individual life policy has been in force for more than two years during the insured’s lifetime, and its incontestability period has expired. May the insurer rely on a contractual fraud exception to reopen a contest about the original application?
590 Texas questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.