28 Tex. Admin. Code § 4.606 - Misstatement of Age
(a) The policy must
provide that if the age of the insured has been understated, the amount payable
under the policy is the amount that 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
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.