Indiana § 27-8-12-14.5 Policy summary; requirements

Indiana Statutes

§ 27-8-12-14.5 — Policy summary; requirements

Indiana § 27-8-12-14.5

Title 27INSURANCE

Art. 8LIFE, ACCIDENT, AND HEALTH

Ch. 12Long Term Care Insurance

This text of Indiana § 27-8-12-14.5 (Policy summary; requirements) 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 § 27-8-12-14.5 (2026).

Text

5.

(a)A policy summary shall be delivered, at the time of policy delivery, for an individual life insurance policy that provides long term care benefits within the policy or by a rider.

(b)The insurer shall deliver the policy summary upon the applicant's request when there is a direct response solicitation. If there is no request, the insurer shall deliver the policy summary not later than when the policy is delivered.

(c)The policy summary must include the following:

(1)An explanation of how long a long term care benefit interacts with other components of the policy, including deductions from a death benefit.

(2)An illustration of the amount of a benefit, the length of a benefit, and the guaranteed lifetime benefits for each covered person.

(3)Any exclusion, reduction, and limitatio

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5. (a) A policy summary shall be delivered,
at the time of policy delivery, for an individual life insurance policy
that provides long term care benefits within the policy or by a rider.
(b) The insurer shall deliver the policy summary upon the
applicant's request when there is a direct response solicitation. If there
is no request, the insurer shall deliver the policy summary not later than
when the policy is delivered.
(c) The policy summary must include the following:
(1) An explanation of how long a long term care benefit interacts
with other components of the policy, including deductions from
a death benefit.
(2) An illustration of the amount of a benefit, the length of a
benefit, and the guaranteed lifetime benefits for each covered
person.
(3) Any exclusion, reduction, and limitation on benefits of long
term care.
(d) A policy summary required under this section must also include
the following information if applicable:
(1) A disclosure of any effect of exercising rights under the policy
other than rights referred to in subsection (c).
(2) A disclosure of any guarantee related to long term care costs
of insurance charges.
(3) Current and projected maximum lifetime benefits.