28 Tex. Admin. Code § 3.106 - Misstatement of Age
(a) The policy must
provide that if the age of the insured has been understated, the amount payable
under the policy shall be such as the premium paid would have purchased at the
correct age. The word "misstated" may be used instead of
"understated."
(b) If more than one
life is insured (e.g., by inclusion of premium payor benefits or under family
group plan) the amount payable on the death of deceased may be adjusted because
of a misstatement in the age of a surviving insured, if the actuarial
construction of the contract so requires.
Notes
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