28 Tex. Admin. Code § 4.611 - Reinstatement
(a) All policies that have nonforfeiture
benefits must provide that if, in the event of default in premium payments, the
value of the policy must be applied for the purchase of other insurance, and if
such insurance is in force and the original policy has not been surrendered to
the company and cancelled, the policy may be reinstated within three years, or
longer at the option of the company, from such default upon evidence of
insurability satisfactory to the company and payment of arrears of premiums
with interest. Evidence of insurability need not be restricted to evidence of
good health only.
(b) If more than
one life is insured, evidence of insurability may be required on each
individual as a condition precedent to reinstatement of the policy, but the
policy may provide for reinstatement of only those lives which are
insurable.
(c) This section is not
applicable to single premium policies.
Notes
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