Section 4.608 - Automatic Nonforfeiture Benefits(a) Nonforfeiture values are governed by Insurance Code Chapter 1105, concerning Standard Nonforfeiture Law for Life Insurance.(b) Occasionally, the cash value (because of the inclusion of accumulated dividends, coupon benefits, or other guaranteed returns) is more than sufficient to purchase the maximum amount of extended term insurance available under the policy. In such cases, the policy must clearly provide for the equitable disposition of the entire cash value.(c) Automatic nonforfeiture benefits are not applicable to single premium policies.28 Tex. Admin. Code § 4.608
Adopted by Texas Register, Volume 49, Number 03, January 19, 2024, TexReg 0258, eff. 1/24/2024