Texas § FI.154.004 - GROUP INSURANCE CONTRACTS

Full text of Texas The Texas Constitution § FI.154.004 — GROUP INSURANCE CONTRACTS, with citation guidance and answers to common questions.

§ FI.154.004. GROUP INSURANCE CONTRACTS

GROUP INSURANCE CONTRACTS. (a) A life insurance company authorized to engage in the business of life insurance in this state may issue a group contract of decreasing term life insurance to persons who purchase prepaid funeral benefits from the same seller. The amount of life insurance for a purchaser must at all times approximate the future unpaid balance of the purchaser's contract for prepaid funeral benefits. (b) A seller has an insurable interest in the life of the purchaser of a prepaid funeral benefits contract to the extent of any unpaid balance of the contract. The proceeds of a life insurance policy received by the seller on the life of the purchaser shall be applied to the unpaid balance. (c) This section does not affect the funding of prepaid funeral benefits by other insurance contracts as provided by Subchapter E. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. SUBCHAPTER B. POWERS AND DUTIES OF DEPARTMENT

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Frequently Asked Questions About Texas § FI.154.004

What does The Texas Constitution § FI.154.004 cover?

Section FI.154.004 ("GROUP INSURANCE CONTRACTS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Texas § FI.154.004?

A common citation format is "The Texas Constitution § FI.154.004" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Texas law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.

How does Texas § FI.154.004 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Texas.