Section 1101.203 - Applicability(a) This subchapter applies to a life insurance policy issued by an insurer, as defined by Section 1102.001, that contains non-guaranteed charges that may change at the discretion of the insurer.(b) This subchapter does not apply to:(1) group life insurance without separately identifiable accounts for insureds;(2) a life insurance policy in which the insurer assumes all risk and contractually guarantees a death benefit in exchange for a guaranteed premium set at the time of the policy's issuance;(3) an individual or group annuity contract;(4) credit life insurance;(5) a life insurance policy with no illustrated death benefits on any individual exceeding $10,000;(6) a bank-owned or corporate-owned life insurance policy; or(7) a life insurance policy that does not provide for cash values or nonforfeiture values.Tex. Ins. Code § 1101.203
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 1026,Sec. 1, eff. 9/1/2019, applicable only to a decrease in a credited interest rate applied to an insurance policy on or after January 1, 2021.