Texas Statutes and Rules Pertinent to Life Insurance Only
Under 28 TAC Chapter 3 (Subchapter A, Replacement Rules), what transaction constitutes a life insurance replacement?
Answer and explanation
Answer: D. 28 TAC § 3.1002 defines replacement as any transaction where existing life coverage will be terminated, reduced, or modified.Source: 28 TAC Chapter 3 / TDI Replacement Rules — Replacement Definition
More texas statutes and rules pertinent to life insurance only questions
- Under Texas Insurance Code § 1101.006, after a life insurance policy has been in force during the lifetime of the insured for 2 years from issuance, on what grounds can the insurer contest policy validity?
- Under Texas Insurance Code § 1103.003, who possesses the legal right to designate or change beneficiaries on a life policy unless an irrevocable beneficiary is named?
- Under Texas Insurance Code § 1103.055, how does an absolute assignment of a life insurance policy affect beneficiary rights?
- Under Texas Insurance Code § 1103.102, within how many days after receiving proof of death must an insurer pay a life insurance death claim to avoid statutory interest penalties?
- Under Texas Insurance Code Chapter 425 (Subchapter B), what is the primary statutory purpose of establishing legal reserve requirements for life insurers?
- Under Texas law, why does it matter that an insured's application statements are representations rather than warranties?
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