The purpose of this subchapter is to exempt certain life and accident and sickness policy forms and annuity contract forms from certain of the requirements of Insurance Code Chapter 1701. Chapter 1701 requires that these forms may not be delivered, issued, or used in Texas unless they have been filed for review for approval with the Texas Department of Insurance as provided in §1701.054. Insurance Code §1701.005(b) provides for exemption by the commissioner of policy forms from the requirements of Chapter 1701 under certain circumstances. This subchapter exempts the forms specified from the requirement that they either be approved before being used or reviewed after being used as provided in §1701.054. However, this subchapter does not exempt such forms from the requirement that they be filed before being used. An additional purpose of this subchapter is to expedite the review process of forms filed under Insurance Code Chapter 1701.