28 Tex. Admin. Code § 3.111 - Reinstatement
(a) All policies which have nonforfeiture
benefits must provide that if, in the event of default in premium payments, the
value of the policy shall be applied for the purchase of other insurance, and
if such insurance shall be in force and the original policy shall not have been
surrendered to the company and cancelled, the policy may be reinstated within
three years, or longer at the option of the company, from such default upon
evidence of insurability satisfactory to the company and payment of arrears of
premiums with interest. Evidence of insurability need not be restricted to
evidence of good health only.
(b)
If more than one life is insured, evidence of insurability may be required on
each individual as a condition precedent to reinstatement of the policy, but
the policy may provide for reinstatement of only those lives which are
insurable.
(c) This section is not
applicable to single premium policies.
Notes
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