Texas Insurance Code 1131.005 – Guaranteeing Issuance of Life Insurance Policy Without Evidence of Insurability
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(a) In this section, “qualified pension or profit-sharing plan” means a plan that meets the requirements of:
(1) Section 401 or 403, Internal Revenue Code of 1986, and their subsequent amendments; or
(2) any corresponding provisions of prior or subsequent United States revenue laws.
(b) This code does not prohibit a life insurance company authorized to engage in the business of insurance in this state from guaranteeing to issue individual life insurance policies insuring participants in a qualified pension or profit-sharing plan on other than the term plan without evidence of insurability.
Terms Used In Texas Insurance Code 1131.005
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005