28 Tex. Admin. Code § 4.1604 - Definitions
The following words and terms, when used in this subchapter, have the following meanings unless the context clearly indicates otherwise.
(1) Commissioner--The
commissioner of insurance.
(2)
Department--The Texas Department of Insurance.
(3) Insured--The person whose life is insured
under the policy. For purposes of this subchapter, the insured is the owner,
unless the insured and owner are different parties as set forth in the
policy.
(4) Mental incapacity
--Lacking the ability, based on reasonable medical judgment, to understand and
appreciate the nature and consequences of a decision regarding failure to pay a
premium when due and the ability to reach an informed decision in the
matter.
(5) Owner--The person who
has all the rights and all the responsibilities of the policy.
(6) Policyholder--The owner of the
policy.
(7) Proof of mental
incapacity--The clinical diagnosis of a physician licensed in this state and
qualified to make the diagnosis.
Notes
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