28 Tex. Admin. Code § 3.4308

Current through Reg. 49, No. 49; December 6, 2024

Section 3.4308 - Pro Rata Reduction of Loan upon Acceleration of Benefits

Unless the insurer is using the Lien Method for determining benefits under § 3.4306(3) of this title (relating to Methods for Determining Benefits and Allowable Charges and Fees), if there is a loan on the life insurance contract, the insurer may deduct up to a pro rata portion of the loan from the amount of the acceleration-of-life-insurance benefit.

The provisions of this §3.4308 adopted to be effective March 1, 1998, 23 TexReg 1585; transferred effective April 16, 1999, 24 TexReg 3092; amended to be effective June 23, 2008, 33 TexReg 4884