Indiana § 27-8-19.8-6 "Viatical settlement contract" defined

Indiana Statutes

§ 27-8-19.8-6 — "Viatical settlement contract" defined

Indiana § 27-8-19.8-6

Title 27INSURANCE

Art. 8LIFE, ACCIDENT, AND HEALTH

Ch. 19.8Viatical Settlements

This text of Indiana § 27-8-19.8-6 ("Viatical settlement contract" defined) 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 § 27-8-19.8-6 (2026).

Text

As used in this chapter, "viatical settlement contract" means an agreement for the purchase, sale, assignment, transfer, devise, or bequest of a portion of the death benefit or ownership of a life insurance policy or contract for consideration that is less than the expected death benefit of the life insurance policy or contract. The term does not include the following:

(1)A loan by an insurer under the terms of a life insurance policy, including a loan secured by the cash value of a policy.

(2)An agreement with a bank, savings bank, savings and loan association, credit union, or other licensed lending institution that takes an assignment of a life insurance policy as collateral for a loan.

(3)The provision of accelerated death benefits by an insurer to an insured under the provisions of

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As used in this chapter, "viatical settlement
contract" means an agreement for the purchase, sale, assignment,
transfer, devise, or bequest of a portion of the death benefit or
ownership of a life insurance policy or contract for consideration that
is less than the expected death benefit of the life insurance policy or
contract. The term does not include the following:
(1) A loan by an insurer under the terms of a life insurance policy,
including a loan secured by the cash value of a policy.
(2) An agreement with a bank, savings bank, savings and loan
association, credit union, or other licensed lending institution that
takes an assignment of a life insurance policy as collateral for a
loan.
(3) The provision of accelerated death benefits by an insurer to an
insured under the provisions of a life insurance contract.
(4) Agreements between an insurer and a reinsurer.
(5) An agreement by a person who enters into not more than one
(1) such agreement in any five (5) year period to purchase a life
insurance policy or contract for the transfer of a life insurance
policy for a value that is less than the expected death benefit.