Section 1106.002 - Reinstatement Required; Exception(a) On the lapse of an individual life insurance policy following the unintentional default in the payment of premiums caused by the mental incapacity of the insured, a person is entitled to have the policy reinstated under this chapter if: (1) the policy had been in effect continuously for at least five years immediately preceding the lapse; and(2) there was not a default in the payment of premiums on the policy during the period described by Subdivision (1).(b) The insurer is not required to reinstate a policy or pay benefits under this chapter if the insured first became mentally incapacitated after the expiration of an applicable grace period contained in the policy.Tex. Ins. Code § 1106.002
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. 6/1/2003.