Designation of Beneficiary Or Owner In Policy Application

Sec. 1103.054. DESIGNATION OF BENEFICIARY OR OWNER IN POLICY APPLICATION. An individual of legal age may: (1) apply for a policy insuring the individual's life; and (2) designate in writing in the application for the policy any individual, partnership, association, corporation, or other legal entity as: (A) a beneficiary of the policy; (B) an absolute or partial owner of the policy; or (C) both a beneficiary and an absolute or partial owner of the policy. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.