Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 3 - LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES
Subchapter B - INDIVIDUAL LIFE INSURANCE POLICY FORM CHECKLIST AND AFFIRMATIVE REQUIREMENTS
Section 3.108 - Automatic Nonforfeiture Benefits
Universal Citation: 28 TX Admin Code § 3.108
Current through Reg. 50, No. 13; March 28, 2025
(a) Nonforfeiture values are governed by Insurance Code Chapter 1105.
(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.
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