Section 1251.257 - Premium for Converted Policy(a) An insurer shall determine the premium for a converted policy issued under this subchapter in accordance with the insurer's table of premium rates for coverage that was provided under the group policy. The premium: (1) must be based on the type of converted policy and the coverage provided by the policy; and(2) may be based on the age and geographic location of each individual to be covered.(b) The premium for the same coverage and benefits under a converted policy may not exceed 200 percent of the premium determined for the group policy in accordance with Subsection (a).Tex. Ins. Code § 1251.257
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 3, eff. 4/1/2005.