Tex. Insurance Code § 1101.011
TIME FOR SETTLEMENT OF CLAIM
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 1101.011, TIME FOR SETTLEMENT OF CLAIM, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/680778
- Permanent ID
ys:prov:680778@1- SHA-256
032130f6d5f602a9eb13bf48cc6680cee83450476ef01e66ea924c82e553f1dd
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) Except as provided by Subsection (b), a life insurance policy must provide that settlement under the policy after the death of the insured will be made not later than two months after the date of receipt of proof of:
(1) the death; and
(2) the right of the claimant to the proceeds of the policy.
(b) A private placement contract issued under Section 1152.110 may provide that:
(1) settlement of that portion of the contract attributable to separate account assets is subject to the liquidity of those assets; and
(2) the portion of the contract described by Subdivision (1) must be settled by the insurer when the separate account assets are converted to cash under any applicable terms, which may be a period longer than the two-month period described by Subsection (a).