Texas Insurance Code 4054.051 – License Required
Terms Used In Texas Insurance Code 4054.051
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
Except as provided by Subchapter G, a person is required to hold a general life, accident, and health license if the person acts as:
(1) an agent who represents a health maintenance organization;
(2) an industrial life insurance agent for an insurer that writes only weekly premium life insurance on a debit basis under Chapter 1151;
(3) an agent who writes life, accident, and health insurance for a life insurance company;
(4) an agent who writes only accident and health insurance;
(5) an agent who writes fixed or variable annuity contracts or variable life contracts;
(6) an agent who writes for a stipulated premium company:
(A) only life insurance in excess of $25,000 on any one life;
(B) only accident and health insurance; or
(C) both kinds of insurance described by Paragraphs (A) and (B);
(7) an agent who writes life, accident, and health insurance for any type of authorized life insurance company that is domiciled in this state, including a legal reserve life insurance company, and who represents the company:
(A) in a foreign country or territory; and
(B) on a United States military installation or with United States military personnel;
(8) an agent who writes life, accident, and health insurance for a fraternal benefit society except as provided by Section 885.352; or
(9) an agent who writes any other kind of insurance as required by the commissioner for the protection of the insurance consumers of this state.