A statement is material for the purposes of this chapter, regardless of the admissibility of the statement at trial, if the statement could have affected:

1. (1) the eligibility for coverage or amount of the payment on a claim for payment under an insurance policy; or
2. (2) the decision of an insurer whether to issue an insurance policy.

Added by Acts 2005, 79th Leg., Ch. 1162 (H.B. 3376), Sec. 4, eff. September 1, 2005.