Indiana Statutes
§ 27-1-12-44 — Stranger originated life insurance allegation; lack of insurable interest
Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 12 Life Insurance Company Powers and Policy
(a)This section applies to a life insurance
policy that is issued after June 30, 2008.
(b)Notwithstanding any other law, an insurer shall not, after a life
insurance policy has been in force for two (2) years after the life
insurance policy's date of issue, allege that the life insurance policy was
issued in connection with stranger originated life insurance (as defined
in IC 27-8-19.8-7.8) as a basis to deny payment of the proceeds of the
life insurance policy. However, an insurer may seek to void a life
insurance policy at any time for lack of insurable interest at the time the
life insurance policy was issued.
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Legislative History
As added by P.L.112-2008, SEC.1.
Nearby Sections
15
§ 27-1-1-1
Creation; functions§ 27-1-1-2
Insurance commissioner§ 27-1-1-3
Personnel§ 27-1-1-4
Repealed§ 27-1-1-5
Repealed§ 27-1-1.5-10
"Annual Statement Blank"§ 27-1-1.5-11
"Annual Statement Instructions"§ 27-1-1.5-12
"Current Dental Terminology"; "CDT"§ 27-1-1.5-13
"Current Procedural Terminology"; "CPT"§ 27-1-1.5-15
"Financial Analysis Handbook"§ 27-1-1.5-16
"Financial Condition Examiner's Handbook"§ 27-1-1.5-18
"Healthcare Common Procedure Coding System"; "HCPCS"