Tex. Ins. Code § 1111.052

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1111.052 - Authority to Pay Accelerated Term Life Benefits

An insurer may pay an accelerated benefit under an individual or group term life insurance policy or certificate if:

(1) the insurer has received a written medical opinion, satisfactory to the insurer, that the insured has:

(A) a terminal illness;

(B) a long-term care illness; or

(C) an illness or physical condition that is likely to cause permanent disability or premature death, including:

(i) acquired immune deficiency syndrome (AIDS);

(ii) a malignant tumor;

(iii) a condition that requires an organ transplant; or

(iv) a coronary artery disease that results in acute infarction or requires surgery; and

(2) the amount of the accelerated benefit is deducted from:

(A) the amount of the death benefit payable under the policy or certificate; and

(B) any amount the insured would otherwise be entitled to convert to an individual contract.

Tex. Ins. Code § 1111.052

Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 10A.302, eff. 9/1/2003.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. 6/1/2003.