1363

Upon the death of the insured, and except as otherwise expressly provided by the policy, a life insurer may pay to the surviving spouse, children, beneficiaries, or other person other than the insured’s estate, appearing to the insurer to be equitably entitled thereto, sums then held by it and comprising:\n(1) Premiums paid in advance but not due prior to such death, or funds withheld on deposit for the payment of future premiums.\n(2) Dividends theretofore declared on the policy and withheld by the insurer under the insured’s option.\n(3) Dividends becoming payable on or after the death of the insured.\nHistory —Ins. Code, added as § 13.290 on Nov. 9, 2007, No. 165, § 1, eff. 90 days after Nov. 9, 2007.