(a) This chapter does not apply to:
(1) reinsurance;
(2) group insurance;
(3) pure endowment;
(4) an annuity or reversionary annuity contract;
(5) a term policy of uniform amount that:
(A) does not provide guaranteed nonforfeiture or endowment benefits or renewal of the policy;
(B) has a term of 20 years or less that expires before the insured reaches 71 years of age; and
(C) has uniform premiums that are payable during the entire term of the policy;
(6) a term policy of decreasing amount:
(A) that does not provide guaranteed nonforfeiture or endowment benefits; and
(B) on which each adjusted premium, computed as specified by Subchapter B or D, is less than the adjusted premium computed in that manner for a term policy of uniform amount, or a renewal of a term policy of uniform amount, that:
(i) does not provide guaranteed nonforfeiture or endowment benefits;
(ii) is issued at the same age and for the same initial amount of insurance;
(iii) has a term of 20 years or less and expires before the insured reaches 71 years of age; and
(iv) has uniform premiums that are payable during the entire term of the policy;
(7) a policy:
(A) that does not provide guaranteed nonforfeiture or endowment benefits; and
(B) for which no cash surrender value, if any, or present value of any paid-up nonforfeiture benefit, at the beginning of any policy year, computed as specified by Section 1105.007, 1105.008, 1105.009, Subchapter B, or Subchapter D, exceeds 2-1/2 percent of the amount of insurance at the beginning of the same policy year;
(8) a policy delivered outside this state through an agent or other representative of the company that issued the policy; or
(9) a policy that:
(A) does not provide for cash values or nonforfeiture values; and
(B) meets the requirements of Section 884.403(b).
(b) For purposes of determining the applicability of this chapter, the age at expiry of a joint term life insurance policy is the age at expiry of the oldest insured life on that date.