§ 27-2-23-9 — "Policy"

Indiana § 27-2-23-9

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 2: POWERS AND DUTIES OF INSURERS
• Ch. 23: Unclaimed Life Insurance Benefits

Text

(a) As used in this chapter, "policy" means a
policy or certificate issued in Indiana after June 30, 2015, that provides
the kind of insurance described in Class 1 of IC 27-1-5-1.
(b) The term does not include the following:
(1) A policy or certificate that provides a death benefit under:
(A) an employee benefit plan that is subject to the federal
Employee Retirement Income Security Act of 1974 (29 U.S.C.
1001 et seq.); or
(B) a federal employee benefit program.
(2) A policy or certificate that is used to fund a preneed funeral
contract or prearrangement.
(3) A policy or certificate of credit life or accidental death
insurance.
(4) A policy issued to a group policy owner for which the insurer
does not provide record keeping services.

Legislative History

As added by P.L.90-2014, SEC.1. Amended by P.L.166-2015, SEC.3.