Section 4.606 - Misstatement of Age(a) The policy must provide that if the age of the insured has been understated, the amount payable under the policy is the amount that the premium paid would have purchased at the correct age. The word "misstated" may be used instead of "understated."(b) If more than one life is insured (e.g., by inclusion of premium payor benefits or under family group plan), the amount payable on the death of deceased may be adjusted because of a misstatement in the age of a surviving insured if the actuarial construction of the contract so requires.28 Tex. Admin. Code § 4.606
Adopted by Texas Register, Volume 49, Number 03, January 19, 2024, TexReg 0258, eff. 1/24/2024