Texas Statutes and Rules Pertinent to Life Insurance Only
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?
Answer and explanation
Answer: D. TIC § 1103.003 establishes that the policy owner holds all rights to designate or change beneficiaries.Source: Texas Insurance Code Chapter 1103 — § 1103.003, Policyowner Rights
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