Terms Used In Texas Insurance Code 1701.002

  • 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.
  • Contract: A legal written agreement that becomes binding when signed.

This chapter applies to the form of the following document:
(1) a policy, contract, or certificate of:
(A) accident or health insurance, including group accident or health insurance;
(B) medical or surgical insurance, including group medical or surgical insurance;
(C) life or term insurance, including group life or term insurance;
(D) endowment insurance;
(E) industrial life insurance; or
(F) fraternal benefit insurance;
(2) an annuity or pure endowment contract, including a group annuity contract;
(3) an application attached or required to be attached to the policy, contract, or certificate; or
(4) a rider or endorsement to be attached to, printed on, or used in connection with the policy, contract, or certificate.

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