SECTION 4.618. Conversion Provision

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A conversion provision in a policy must comply with the following:
(1) the conversion provision must state the plan and face amount of the new policy;
(2) the text of the provision must state what premium rates will apply to the new policy;
(3) the text of the provision must discuss the settlement of cash values under the original contract if the policy is converted on a date other than the expiry date; and
(4) the provision must specify that evidence of insurability is not required.

Source Note: The provisions of this §4.618 adopted to be effective September 20, 1982, 7 TexReg 3244; 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

                    
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