Texas Statutes and Rules Pertinent to Life Insurance Only
What is a collateral assignment of a life insurance policy under Texas law?
Answer and explanation
Answer: D. Collateral assignment pledges policy rights as collateral for debt, returning residual rights once debt is paid.Source: Texas Insurance Code Chapter 1103 — § 1103.055, Collateral Assignment
More texas statutes and rules pertinent to life insurance only questions
- Under TIC § 1131.051, what condition applies to employer-sponsored group life insurance coverage for retired employees?
- Under TIC § 1131.051, what restriction applies to dependent group life insurance coverage issued to cover an employee's spouse or children?
- Under TIC § 1131.051, what restriction applies to employer group life policies regarding individual selection of insurance amounts?
- Under TIC § 1131.053, what requirement applies to creditor group life insurance issued to cover debtors?
- Under TIC § 1131.055, can a credit union issue group life insurance covering its members?
- Under TIC § 1131.056, can a labor union or trade association establish a group life insurance plan for its members?
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