Texas § IN.1151.101 - AUTHORIZED PROVISIONS

§ IN.1151.101. AUTHORIZED PROVISIONS

AUTHORIZED PROVISIONS. In addition to the provisions required by Subchapter B and Section 1151.152 , an industrial life insurance policy may: (1) exclude liability or promise a benefit that is less than the full amount payable as a death benefit if the insured: (A) dies by the insured's own hand, regardless of whether the insured is sane or insane; or (B) dies as a result of engaging in a stated hazardous occupation; (2) promise a benefit that is less than the full amount payable if the insured dies as a result of an aviation activity under a condition specified in the policy approved by the department as provided by Chapter 1701 ; (3) limit the maximum amount payable on the death of a child younger than 15 years of age; and (4) include any other provision not otherwise prohibited by this chapter. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2F.008, eff. April 1, 2009.