SECTION 4.1008. Minimum Nonforfeiture Values

The minimum basis for cash values is stated in Insurance Code Chapter 1105, concerning Standard Nonforfeiture Law for Life Insurance, which requires the adjusted premiums to be computed as a "uniform percentage of the respective premiums specified by the policy." Maximum guaranteed premiums in the policy are specified premiums as defined by the Insurance Code. Cash values, if any, will not be required to be redetermined when premiums are reduced for in-force policies. Minimum nonforfeiture values for indeterminate premium group policies on other than the term plan must be calculated in accordance with this section.

Source Note: The provisions of this §4.1008 adopted to be effective May 8, 1980, 5 TexReg 1579; amended to be effective October 23, 1980, 5 TexReg 4091; amended to be effective January 27, 1983, 8 TexReg 185; amended to be effective May 11, 2022, 47 TexReg 2758; transferred effective September 1, 2023, as published in the July 28, 2023, issue of the Texas Register, 48 TexReg 4127; amended to be effective January 24, 2024, 49 TexReg 250