{"data":{"id":"us-tx/tex.-insurance-code-1112.002","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 1112.002","heading":"CERTAIN GUARANTEES CONSTITUTE DEFINITE CONTRACT BENEFIT; VALUATION OF BENEFIT.","body":"(a) Except as provided by Subsection (e), a guarantee described by Section 1112.001 that is in a policy or coupon issued after September 5, 1955, shall be treated as a definite contract benefit and valued according to this section and the reserve requirements of Chapter 425.\n(b) Except as provided by Subsection (c), for a policy or coupon issued before the date determined under Section 1105.002(a) or (b), as applicable to the company, a contract benefit described by Subsection (a) shall be valued using the reserve valuation net premium for the benefits that is a uniform percentage of the gross premiums.\n(c) A policy described by Subsection (b) that contains a contract benefit described by Subsection (a) may be valued on a basis that provides for not more than one year preliminary term insurance.\n(d) For a policy or coupon issued on or after the date determined under Section 1105.002(a) or (b), as applicable to the company, a contract benefit described by Subsection (a) shall be valued using the commissioners reserve valuation method described by Section 425.064.\n(e) A provision of this section relating to reserves does not apply to a policy issued before September 7, 1955.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1F.001, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 7. LIFE INSURANCE AND ANNUITIES","SUBTITLE A. LIFE INSURANCE IN GENERAL","CHAPTER 1112. CERTAIN GUARANTEES IN LIFE INSURANCE POLICIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1112.htm#1112.002","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"f25f96963e5b9e141cdc6857913b3d2dfbb9150c9e89d75615a21cb40c2f68c6","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-1112.001","next":"us-tx/tex.-insurance-code-1113.001"},"notice":"GroundRules: Original legal text. Not legal advice."}