28 Tex. Admin. Code § 3.108 - Automatic Nonforfeiture Benefits
(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.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.