Texas Statutes and Rules Pertinent to Life Insurance Only
Who at an insurer may agree to change the terms of an issued Texas life policy?
Answer and explanation
Answer: D. The entire contract clause typically provides that no change is valid unless approved by a designated officer and endorsed on the policy, and that no agent may alter the contract or waive its provisions.Source: Texas Insurance Code — Tex. Ins. Code ch. 1101, modification of the contract
More texas statutes and rules pertinent to life insurance only questions
- Under Texas Replacement regulations, what recordkeeping duty is imposed on a replacing insurer regarding the replacement notices provided by its agents?
- Under the Texas entire contract requirement, what makes up the agreement between the insurer and the policyowner?
- Under TIC § 1101.005, if a premium is not paid by the due date, how long does policy coverage remain in force during the grace period?
- Under TIC § 1101.005, what statutory minimum grace period must be provided for premium payments on individual life policies in Texas?
- Under TIC § 1101.009, can an insurer charge interest on back premiums when an insured reinstates a lapsed life policy?
- 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?
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