Tex. Ins. Code § 1152.109

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1152.109 - Variable Benefits Provisions

(a) A contract providing benefits payable in variable amounts that is delivered or issued for delivery in this state must state the essential features of the procedures the insurance company will follow in determining the dollar amount of the variable benefits.

(b) A contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued under that group contract, must state:

(1) on its first page, that the benefits under the contract are on a variable basis; and

(2) that the dollar amount will vary.

Tex. Ins. Code § 1152.109

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. 6/1/2003.