<<Prev Rule

Texas Administrative Code

 Next Rule>>
TITLE 28INSURANCE
PART 1TEXAS DEPARTMENT OF INSURANCE
CHAPTER 3LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES
SUBCHAPTER FFCREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE
DIVISION 4PRESUMPTIVELY ACCEPTABLE RELATION OF CREDIT LIFE INSURANCE BENEFITS TO PREMIUMS
RULE §3.5302Joint Credit Life Insurance
(a) Joint lives, for purposes of credit life insurance written under Insurance Code Chapter 1153, mean only spouses or business partners, and such persons must be jointly and severally liable for repayment of the single indebtedness and be joint signers of the instrument of indebtedness. Endorsers and guarantors are not eligible for credit insurance coverage. Joint life coverage may not be written covering more than two lives. Jointly indebted persons may not both be covered separately at single life rates.

 (b) Joint life rates may not be charged for single life coverage.
Source Note: The provisions of this §3.5302 adopted to be effective October 1, 1980, 5 TexReg 2772; amended to be effective December 9, 1991, 16 TexReg 6750; amended to be effective May 20, 1996, 21 TexReg 4054; amended to be effective May 11, 2022, 47 TexReg 2758

Link to Texas Secretary of State Home Page | link to Texas Register home page | link to Texas Administrative Code home page | link to Open Meetings home page