Texas Statutes and Rules Pertinent to Life Insurance Only
Under Texas Replacement regulations (28 TAC § 3.1003), how is a transaction treated if a policyowner exercises a contractual right to convert a term policy to a whole life policy with the same insurer?
Answer and explanation
Answer: D. 28 TAC § 3.1003 explicitly exempts contractual policy conversions with the same insurer from replacement rules.Source: 28 TAC Chapter 3 / TDI Replacement Rules — Contractual Conversion Exemption
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