Texas Insurance Code 1255.002 – Applicability of Chapter
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(a) This chapter applies only to a family leave insurance policy, amendment, or rider to a group disability policy delivered or issued for delivery in this state by a life, health, and accident insurance company.
(b) Notwithstanding Chapter 1701 and except as provided by § 1255.108, this chapter does not apply to a certificate of family leave insurance delivered to a resident in this state if the group policy was delivered or issued for delivery in another state.
Terms Used In Texas Insurance Code 1255.002
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- Statute: A law passed by a legislature.
(c) This chapter applies to an insurance company authorized to write life, health, and accident insurance in this state, including a stipulated premium company operating under Chapter 884.
(d) This chapter does not apply to:
(1) a society, company, or other insurer whose activities are exempt by statute from department regulation and that is entitled by statute to a certificate from the department that shows the entity’s exempt status;
(2) a credit accident and health insurance policy issued under Chapter 1153;
(3) a workers’ compensation insurance policy;
(4) a liability insurance policy, with or without supplementary expense coverage;
(5) a reinsurance policy or contract;
(6) a blanket or group insurance policy, except as otherwise provided by this chapter; or
(7) a life insurance endowment or annuity contract, or a contract supplemental to a life insurance endowment or annuity contract, if the contract or supplemental contract contains only provisions relating to accident and health insurance that:
(A) provide additional benefits in case of accidental death, accidental dismemberment, or accidental loss of sight; or
(B) operate to:
(i) safeguard the contract or supplemental contract against lapse; or
(ii) give a special surrender value, a special benefit, or an annuity if the insured or annuitant becomes totally and permanently disabled, as defined by the contract or supplemental contract.