# Tex. Insurance Code § 1114.003: DEFINITION OF POLICY SUMMARY

> Texas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.003

## Section

- **Citation:** Tex. Insurance Code § 1114.003
- **Heading:** DEFINITION OF POLICY SUMMARY
- **Jurisdiction:** Texas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TX Code / Code in / Chapter 1114 / Section 1114.003

## Text

(a) For purposes of this chapter, "policy summary" has the meaning assigned by this section.

(b) For a policy or contract other than a universal life insurance policy, "policy summary" means a written statement regarding the policy or contract that at minimum contains, to the extent applicable, the following information:

(1) the current death benefit;

(2) the annual contract premium;

(3) the current cash surrender value;

(4) the current dividend;

(5) the application of the current dividend; and

(6) the amount of any outstanding loan.

(c) For a universal life insurance policy, "policy summary" means a written statement that contains, at minimum, the following information:

(1) the beginning and ending date of the current reporting period;

(2) the policy value at the end of the previous reporting period and at the end of the current reporting period;

(3) the total amounts that have been credited or debited to the policy value during the current reporting period, identifying each by type, including interest, mortality, expense, and riders;

(4) the current death benefit at the end of the current reporting period on each life covered by the policy;

(5) the net cash surrender value of the policy as of the end of the current reporting period; and

(6) the amount of any outstanding loans as of the end of the current reporting period.

## Nearby sections

- [Tex. Insurance Code § 1114.001 § 1114.001. PURPOSE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.001.md)
- [Tex. Insurance Code § 1114.002 § 1114.002. GENERAL DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.002.md)
- [Tex. Insurance Code § 1114.003 § 1114.003. DEFINITION OF POLICY SUMMARY.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.003.md)
- [Tex. Insurance Code § 1114.004 § 1114.004. APPLICABILITY; EXEMPTIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.004.md)
- [Tex. Insurance Code § 1114.005 § 1114.005. FINANCED PURCHASE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.005.md)
- [Tex. Insurance Code § 1114.006 § 1114.006. CONSUMER NOTICE DOCUMENTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.006.md)
- [Tex. Insurance Code § 1114.007 § 1114.007. RULES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.007.md)
- [Tex. Insurance Code § 1114.051 § 1114.051. DUTIES OF AGENT; NOTICE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.051.md)
- [Tex. Insurance Code § 1114.052 § 1114.052. DUTIES OF INSURERS THAT USE AGENTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.052.md)
- [Tex. Insurance Code § 1114.053 § 1114.053. DUTIES OF REPLACING INSURERS THAT USE AGENTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.053.md)
- [Tex. Insurance Code § 1114.054 § 1114.054. DUTIES OF EXISTING INSURER.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.054.md)
- [Tex. Insurance Code § 1114.055 § 1114.055. DUTIES OF INSURERS REGARDING DIRECT RESPONSE SOLICITATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.055.md)
- [Tex. Insurance Code § 1114.056 § 1114.056. REGISTERED CONTRACTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.056.md)
- [Tex. Insurance Code § 1114.057 § 1114.057. DISCLOSURE OF AVAILABILITY OF WAIVER OF SURRENDER CHARGES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.057.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_Cin_C1114_S1114.003. Check the current official text before relying on it. Not legal advice.