§ 27-1-12-25 — Misrepresentation of policy terms or benefits; inducing policyholder to lapse, forfeit, or surrender insurance

No life insurance company doing business
in this state, and no officer, director or agent thereof shall make, issue
or circulate, or cause to be issued or circulated, any estimate,
illustration, circular, or statement of any sort misrepresenting the terms
of any policy issued or to be issued by it or the benefits or advantages
promised thereby, or the dividends or share of the surplus to be
received thereon, or shall use any name or title of any policy or class of
policies misrepresenting the true nature thereof. Nor shall a person
make any misrepresentation to any person insured in any company for
the purpose of inducing or tending to induce a policyholder in any
company to lapse, forfeit, or surrender his insurance.
Formerly: Acts 1935, c.162, s.164. As amended by Acts 1978,
P.L.2, SEC.2710.