Texas Insurance Code 1131.105 – Application for Policy; Statements of Insured
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 1131.105
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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
A group life insurance policy must provide that:
(1) a copy of any application for the policy by the policyholder must be attached to the policy when issued;
(2) a statement made by the policyholder or an insured is considered a representation and not a warranty; and
(3) a statement made by an insured may not be used in any contest under the policy unless a copy of the instrument containing the statement is or has been furnished to the person or the person’s beneficiary.