Texas § 1151.061 REINSTATEMENT OF POLICY.

Texas Statutes

§ 1151.061 — REINSTATEMENT OF POLICY.

Texas § 1151.061

Code INInsurance Code

This text of Texas § 1151.061 (REINSTATEMENT OF POLICY.) 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. § 1151.061 (2026).

Text

Sec. 1151.061. REINSTATEMENT OF POLICY.

(a)An industrial life insurance policy must provide that unless the cash surrender value has been paid or the term of extended insurance has expired, the policy may be reinstated not later than the first anniversary of or, at the option of the insurer, not later than the 52nd week after the date of default in payment of premiums if the insured:

(1)pays all overdue premiums;

(2)pays or reinstates any other debt owed to the insurer on the policy; and

(3)presents evidence of insurability satisfactory to the insurer.

(b)The insurer may impose on the overdue premiums interest at an annual rate specified in the policy, not to exceed six percent.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1151.061. REINSTATEMENT OF POLICY. (a) An industrial life insurance policy must provide that unless the cash surrender value has been paid or the term of extended insurance has expired, the policy may be reinstated not later than the first anniversary of or, at the option of the insurer, not later than the 52nd week after the date of default in payment of premiums if the insured:
(1) pays all overdue premiums;
(2) pays or reinstates any other debt owed to the insurer on the policy; and
(3) presents evidence of insurability satisfactory to the insurer.
(b) The insurer may impose on the overdue premiums interest at an annual rate specified in the policy, not to exceed six percent.