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2024 Texas Statutes
Insurance Code
Title 7 - Life Insurance and Annuities
Subtitle B - Group Life Insurance
Chapter 1131 - Group Life Insurance and Wholesale, Franchise, or Employee Life Insurance
Subchapter C. Group Life Insurance: Required Provisions
Section 1131.103. Grace Period
Universal Citation:
TX Ins Code § 1131.103 (2024)
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Sec. 1131.103. GRACE PERIOD. (a) A group life insurance policy must provide that the policyholder or premium payor is entitled to a grace period of 31 days for the payment of any premium, other than the first, due under the policy. During the grace period, the death benefit coverage continues in force unless the policyholder or premium payor gives the insurer written notice of discontinuance before the date of discontinuance and in accordance with the policy.
(b) The policy may provide that the policyholder or premium payor is liable to the insurer for payment of a pro rata premium for the time the policy was in force during a grace period.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
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