Section 3.108 - Automatic Nonforfeiture Benefits(a) Nonforfeiture values are governed by Insurance Code Chapter 1105.(b) Occasionally, the cash value (because of the inclusion of accumulated dividends, coupon benefits, or other guaranteed returns) is more than sufficient to purchase the maximum amount of extended term insurance available under the policy. In such cases, the policy must clearly provide for the equitable disposition of the entire cash value.(c) Automatic nonforfeiture benefits are not applicable to single premium policies.28 Tex. Admin. Code § 3.108
The provisions of this §3.108 adopted to be effective January 1, 1976; amended to be effective September 20, 1982, 7 TexReg 3244; Amended by Texas Register, Volume 47, Number 18, May 6, 2022, TexReg 2759, eff. 5/11/2022