Texas Statutes and Rules Pertinent to Life Insurance Only
Under TIC § 1101.009, what maximum timeframe is allowed for an insured to reinstate a lapsed life policy by paying back premiums plus interest and providing proof of insurability?
Answer and explanation
Answer: B. TIC § 1101.009 permits reinstating lapsed life policies within 3 years of default.Source: Texas Insurance Code Chapter 1101 — § 1101.009, 3-Year Reinstatement Rule
More texas statutes and rules pertinent to life insurance only questions
- A Texas owner pays an annual premium and the insured dies four months into that policy year. What happens to the unearned premium?
- A Texas owner's policy loan plus accrued interest grows until it equals the policy's cash value. What happens?
- A Texas policy states that no suit may be brought more than six months after a claim is denied. How is that clause treated?
- A Texas whole life policy has accumulated cash value and the owner requests a policy loan. What is the insurer's obligation?
- An insured has a life insurance policy with a $100,000 death benefit. To secure a bank loan, the insured executes a collateral assignment. If the insured dies when the outstanding loan balance is $30,000, how will the death benefit be distributed?
- An insurer wants to contest a Texas policy using a statement the applicant made on the application, but no copy of the application was attached to the policy. What is the result?
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.