Texas Insurance Code 1131.756 – Right to Individual Policy On Termination of Employment or Membership
Current as of: 2024 | Check for updates
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(a) A policy of wholesale, franchise, or employee life insurance must contain in substance the provisions prescribed by this section.
(b) The policy must provide that, subject to Subsections (c) and (d), if the insurance on an individual insured under the policy ceases because the individual’s employment or membership in the labor or credit union terminates, the individual is entitled to have the insurer issue to the individual an individual life insurance policy without disability or other supplementary benefits.
Terms Used In Texas Insurance Code 1131.756
- 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.
(c) An individual policy under this section must be issued without evidence of insurability.
(d) An individual must apply for an individual policy and pay the first premium to the insurer not later than the 31st day after the date the individual’s employment or membership terminates.