In addition to the provisions required by Subchapter B and Section 1151.152, an industrial life insurance policy may:

1. (1) exclude liability or promise a benefit that is less than the full amount payable as a death benefit if the insured:

   1. (A) dies by the insured's own hand, regardless of whether the insured is sane or insane; or
   2. (B) dies as a result of engaging in a stated hazardous occupation;
2. (2) promise a benefit that is less than the full amount payable if the insured dies as a result of an aviation activity under a condition specified in the policy approved by the department as provided by Chapter 1701;
3. (3) limit the maximum amount payable on the death of a child younger than 15 years of age; and
4. (4) include any other provision not otherwise prohibited by this chapter.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2F.008, eff. April 1, 2009.