Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 4 - LIFE AND ANNUITY
Subchapter F - INDIVIDUAL LIFE INSURANCE POLICY FORM CHECKLIST AND AFFIRMATIVE REQUIREMENTS
Section 4.623 - Assignment Provisions

Universal Citation: 28 TX Admin Code § 4.623
Current through Reg. 50, No. 13; March 28, 2025

There is no prohibition against a provision that permits the assignment of the policy benefits or proceeds. However, policies that make provision for dividends, coupon accumulations, or other guaranteed returns, and that also contain provision for the assignment of these funds to a third party for the purpose of establishing an investment for the policyholder are prohibited.

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