Indiana § 27-1-12-44 Stranger originated life insurance allegation; lack of insurable interest

Indiana Statutes

§ 27-1-12-44 — Stranger originated life insurance allegation; lack of insurable interest

Indiana § 27-1-12-44

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 12Life Insurance Company Powers and Policy

This text of Indiana § 27-1-12-44 (Stranger originated life insurance allegation; lack of insurable interest) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-1-12-44 (2026).

Text

(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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(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.