§ 27-8-13-14 — Outline of coverage; contents

Indiana § 27-8-13-14

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 13: Medicare Supplement Insurance

Text

(a) In order to provide for full and fair
disclosure in the sale of Medicare supplement policies, a Medicare
supplement policy or certificate may not be delivered in Indiana unless
an outline of coverage is delivered to the applicant at the time
application is made.
(b) The commissioner shall prescribe by rule adopted under IC 4-22-2 the form and content of the outline of coverage required by
subsection (a). For purposes of this section, "form" means style,
arrangements, and overall appearance, including such items as the size,
color, and prominence of type and arrangement of text and captions.
The outline of coverage must include the following:
(1) A description of the principal benefits and coverage provided
in the policy.
(2) A statement of the renewal provisions, including a reservation
by the issuer of a right to change premiums, and a disclosure of
the existence of any automatic premium increases based on the
policyholder's age.
(3) A statement that the outline of coverage is a summary of the
policy issued or applied for and that the policy should be
consulted to determine governing contractual provisions.

Legislative History

As added by P.L.255-1989, SEC.11. Amended by P.L.126-1992, SEC.11.