Texas § 1101.005 GRACE PERIOD.

Texas Statutes

§ 1101.005 — GRACE PERIOD.

Texas § 1101.005

Code INInsurance Code

This text of Texas § 1101.005 (GRACE PERIOD.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 1101.005 (2026).

Text

Sec. 1101.005. GRACE PERIOD.

(a)Except as provided by Subsection (b), a life insurance policy:

(1)must contain a provision for a grace period of at least one month for the payment of each premium after the first payment during which the policy remains in force; and

(2)may:

(A)provide for an interest charge on a premium paid during a grace period; or

(B)provide that if an insured dies during a grace period the overdue premium will be deducted from any settlement made under the policy.

(b)The commissioner by rule may require a life insurance policy issued under Section 884.402 (3) to contain a grace period that is longer than the grace period required by this section.

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Sec. 1101.005. GRACE PERIOD. (a) Except as provided by Subsection (b), a life insurance policy:
(1) must contain a provision for a grace period of at least one month for the payment of each premium after the first payment during which the policy remains in force; and
(2) may:
(A) provide for an interest charge on a premium paid during a grace period; or
(B) provide that if an insured dies during a grace period the overdue premium will be deducted from any settlement made under the policy.
(b) The commissioner by rule may require a life insurance policy issued under Section 884.402 (3) to contain a grace period that is longer than the grace period required by this section.