Texas Insurance Code Chapter 1103 > Subchapter D – Forfeiture of Beneficiary’s Rights
Current as of: 2024 | Check for updates
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Other versions
| § 1103.151 | Forfeiture |
| § 1103.152 | Payment of Proceeds to Contingent Beneficiary or to Relative |
Terms Used In Texas Insurance Code Chapter 1103 > Subchapter D - Forfeiture of Beneficiary's Rights
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.
- Contract: A legal written agreement that becomes binding when signed.