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 3.118 - Conversion Provision
Universal Citation: 28 TX Admin Code § 3.118
Current through Reg. 50, No. 13; March 28, 2025
A conversion provision in a policy must comply with the following:
(1) the conversion provision shall state the plan and face amount of the new policy;
(2) the text of the provision shall state what premium rates will apply to the new policy;
(3) the text of the provision shall discuss the settlement of cash values under the original contract if the policy is converted on a date other than the expiry date;
(4) the provision shall specify that evidence of insurability is not required.
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