Texas Insurance Code 491.001 – Inapplicability of Subchapter
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Terms Used In Texas Insurance Code 491.001
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
This subchapter does not apply to:
(1) life insurance;
(2) health insurance;
(3) annuity contracts;
(4) title insurance;
(5) workers’ compensation insurance;
(6) employers’ liability insurance coverage; or
(7) any policy or kind of coverage for which the maximum possible loss to the insurer is not readily ascertainable on the policy’s issuance.