Texas Administrative Code

(a) For the deferred annuities, except unallocated group annuities, within the scope of these sections, interest rates, whether guaranteed or subject to future determinations by the company, must not be presented in a manner which might lead the prospect to believe that the compl…

The commissioner may, at the commissioner's discretion, require the data specified in this section from any insurance companies which are subject to this subchapter. These requirements apply to individual annuities, group annuities, and any supplemental provisions of riders attac…

The Standard Valuation Law, as it appears in Texas statutes, discusses interest rates appropriate for the calculation of minimum reserves. The Standard Valuation Law also defines the commissioner's annuity reserve method which is required to be used to compute the minimum reserve…

Annuity and miscellaneous fund submissions which at any point of time make use of an interest rate in excess of the applicable maximum valuation interest rate as defined in the standard valuation law for that type of annuity or pure endowment contract in determining policyholder …

An unallocated group annuity is a contract covering multiple lives issued to an employer or trustee as the policyholder or contract holder or similar term where the values under the contract are not allocated to specific individuals. This definition specifically includes deposit …

It is the purpose of this subchapter: (1) to encourage a company's awareness that imprudent guarantees on annuity contracts and miscellaneous funds may lead to a hazardous financial condition, and to call attention of the fact that the commissioner of insurance may wish to make u…

This subchapter is prescribed and promulgated in respect to the provisions of Insurance Code § 982.114 ; Chapter 425, Subchapter B; Chapter 1701; Chapter 404; and other applicable provisions. Notes 28 Tex. Admin. Code § 3.1001 The provisions of this §3.1001 adopted to be effectiv…

Requested filing mode. All filings must identify a requested filing mode as described in this section. (1) Review and approval. The following types of filings must be submitted for review or approval: (A) a form or rate filing that is required to be filed for review or approval u…

This subchapter applies to all filings related to a life insurance, annuity, life settlement, credit insurance, accident and health insurance, HMO, or point-of-service product that are filed with the department, including the following filing types: (1) a form filing submitted un…

No policy may provide for premium changes more often than once per policy year. Notes 28 Tex. Admin. Code § 3.306 The provisions of this §3.306 adopted to be effective May 8, 1980, 5 TexReg 1579.

(a) Single state company. A single state company is a domestic company that is licensed and doing business only in this state. A domestic company is doing business only in this state if the company does not have direct or assumed risks for policies issued outside of this state. (…

(a) Except as provided in subsection (c) of this section, the grant of express authority of a provider for access to their fee schedules cannot be presumed for any line of business for the purposes of compliance with Insurance Code § 1458.101 . (b) The contracting entity must not…

(a) A Provider Network Contracting Entity Registration Form under § 3.9802 of this title or a Provider Network Contracting Entity Exemption of Affiliates Form under § 3.9803 of this title must be accompanied by the required fee of $1,000. (b) No fee is required for submitting a c…

(a) TDI adopts the Provider Network Contracting Entity Exemption of Affiliates Form by reference. (b) Unless the commissioner has granted an affiliate exemption to the contracting entity under this section, each contracting entity that is a health maintenance organization or othe…

(a) TDI adopts the Provider Network Contracting Entity Registration Form by reference. (b) Except as provided in subsection (c) of this section, each person operating as a contracting entity must submit to TDI a fully completed Provider Network Contracting Entity Registration For…

(a) Terms in this subchapter have the same meaning as defined and used in Insurance Code Chapter 1458. (b) The following words and terms when used in this subchapter have the following meanings unless the context clearly indicates otherwise: (1) Affiliate--Includes each person th…

(a) Before the recommendation or sale of an annuity, an agent must provide to the consumer a form that meets the requirements of Insurance Code § 1115.0514(b) , concerning Disclosure Obligation. The agent must use: (1) form FIN194 (07/21), which is adopted by reference and is ava…

The purpose of this division is to provide standards for the disclosure of certain minimum information about annuity suitability and to adopt related forms to meet the requirements of Insurance Code Chapter 1115, concerning Suitability of Certain Annuity Transactions. Notes 28 Te…

(a) For annuities in the payout period with changes in non-guaranteed elements and for the accumulation period of a deferred annuity, the insurer shall provide each contract owner with a report, at least annually, on the status of the contract. (b) The report must contain at leas…

(a) If the buyer's guide and the disclosure document required by this subchapter are not provided at or before the time of application, a free look period of at least 15 calendar days must be provided during which the applicant may return the contract without penalty. (b) Notice …

For the purposes of this subchapter, an appropriate buyer's guide is the latest version of the buyer's guide adopted by the NAIC that applies to the particular type of annuity (such as fixed deferred annuity, equity-indexed annuity, or variable annuity) that is the subject of the…

(a) At a minimum, the following information, if applicable, must be included in the disclosure document required to be provided under this subchapter: (1) the generic name of the contract; the insurer product name, if different from the generic name; the product's form number; an…

(a) If an application for an annuity contract or certificate is taken in a face-to-face meeting, the applicant shall be given at or before the time of application both a disclosure document and the appropriate buyer's guide specified in § 3.9710 of this subchapter (relating to Bu…

Compliance with this subchapter is not a defense in any action brought by or for the department alleging a violation of the Insurance Code, or, except for this subchapter, any rule adopted pursuant to the Insurance Code. Notes 28 Tex. Admin. Code § 3.9707 The provisions of this §…

(a) For the purposes of this subchapter, "guaranteed element" means an element listed in § 3.9705 (a)(1) - (7) of this subchapter (relating to Determinable Elements) that is guaranteed and determined at issue. An element is considered guaranteed if all of the underlying elements …

(a) For the purposes of this subchapter, "determinable elements" means elements derived from processes or methods that are guaranteed at issue and are not subject to company discretion, but for which the values or amounts cannot be determined until some point after issue. The ter…

(a) Words and terms defined in the Insurance Code Chapter 102 shall have the same meaning when used in this subchapter. (b) The following words and terms, when used in this subchapter, shall have the following meanings unless the context clearly indicates otherwise. (1) Agent--An…

This subchapter shall apply only to annuity transactions subject to regulation under this subchapter that occur on or after the date that is six months after the effective date of this subchapter. Notes 28 Tex. Admin. Code § 3.9703 The provisions of this §3.9703 adopted to be eff…

(a) This subchapter applies to all group and individual annuity contracts and certificates except as provided by subsection (b) of this section. (b) This subchapter does not apply to the following annuity products except as provided in subsection (c) of this section: (1) immediat…

The purpose of this subchapter is to: (1) provide standards for the disclosure of certain minimum information about annuity contracts; and (2) assist purchasers of annuity contracts to understand certain basic features of annuity contracts. Notes 28 Tex. Admin. Code § 3.9701 The …

(a) For preneed life insurance policies or certificates issued on or after January 1, 2009, and before January 1, 2012, the 2001 CSO Mortality Table may be used as the minimum standard for reserves and minimum standard for nonforfeiture benefits for both male and female insureds …

(a) The method used in determining the standard for the minimum valuation of reserves for preneed life insurance shall be the method defined in the Insurance Code Chapter 425 Subchapter B (Standard Valuation Law). (b) The method used in determining the standard for the minimum no…

(a) The interest rates used in determining the minimum standard for valuation of preneed life insurance shall be the calendar year statutory valuation rates as defined in the Insurance Code Chapter 425 Subchapter B (Standard Valuation Law). (b) The interest rates used in determin…

Except as provided by § 3.9606 of this subchapter (relating to Transitional Use of the 2001 CSO Mortality Table), the Ultimate 1980 CSO shall be the minimum mortality standard for determining reserve liabilities and nonforfeiture values for both male and female insureds for prene…

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) 2001 CSO Mortality Table--Mortality tables, consisting of separate rates of mortality for male and female lives, developed by the Am…

(a) The purpose of this subchapter is to establish the minimum mortality standards for reserves and nonforfeiture values for preneed life insurance policies or certificates, and to recognize, permit, and prescribe the use of the Ultimate 1980 CSO in determining the minimum standa…

(a) Beginning with the effective date of this subchapter and ending January 31, 2008, an insurer subject to Insurance Code Chapter 1114 may use a consumer notice that is substantially similar to the text promulgated in Figure: 28 TAC § 3.9504 (b) orFigure: 28 TAC § 3.9505 (1) imm…

In the case of a life insurance or annuity application initiated as a result of a direct response solicitation, the insurer shall inquire whether the applicant, by applying for the proposed policy or contract, intends to replace, discontinue, or change an existing life insurance …

(a) An agent who initiates an application for a life insurance policy or annuity contract shall submit to the insurer, with or as part of the application, a statement signed by both the applicant and the agent as to whether the applicant has existing life insurance policies or an…

(a) The text contained in Figure: 28 TAC § 3.9504 (b) , Figure: 28 TAC § 3.9505 (1) and Figure: 28 TAC § 3.9505 (2) must be in at least 10-point type and presented in the same order as indicated in each figure and without any change to the specified text, including bolding effect…

When used in this subchapter, the words "agent" and "producer" shall mean, unless the context clearly indicates otherwise, an individual who holds a license under Insurance Code Chapter 4054 and who sells, solicits, or negotiates life insurance or annuities in this state. Notes 2…

The purpose of this subchapter is to specify the content and procedural requirements for consumer notices for life insurance policy and annuity contract replacements as required by the Insurance Code § 1114.006 . Notes 28 Tex. Admin. Code § 3.9501 The provisions of this §3.9501 a…

(a) For each plan of insurance with separate rates for preferred and standard nonsmoker lives, an insurer may use the super preferred nonsmoker, preferred nonsmoker, and residual standard nonsmoker tables to substitute for the nonsmoker mortality table found in the 2001 CSO Morta…

(a) Policies issued on or after January 1, 2007, and before January 1, 2017. At the election of the insurer, for each calendar year of issue, for any one or more specified plans of insurance and subject to satisfying the conditions stated in this subchapter, the 2001 CSO Preferre…

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) 2001 CSO Mortality Table--Mortality tables, consisting of separate rates of mortality for male and female lives, developed by the Am…

The purpose of this subchapter is to recognize and permit the use of mortality tables that reflect differences in mortality between preferred and standard lives in determining minimum reserve liabilities in accordance with Insurance Code § 425.058(c)(3) and § 3.4505 of this title…

(a) Donation agreement. Prior to accepting any donation, the offeree and the commissioner or the commissioner's designee shall execute a donation agreement that includes the following information: (1) the name of the offeree; (2) a description of the donation, including a determi…