Indiana Statutes
§ 27-8-19.8-7.8 — "Stranger originated life insurance" defined
Indiana § 27-8-19.8-7.8
This text of Indiana § 27-8-19.8-7.8 ("Stranger originated life insurance" 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 § 27-8-19.8-7.8 (2026).
Text
8.
(a)As used in this chapter, "stranger
originated life insurance" means a practice or plan to initiate a life
insurance policy for the benefit of a third party investor who, at the
time the life insurance policy is originated, has no insurable interest in
the insured.
(b)The term includes the following:
(1)An arrangement under which, at the time of life insurance
policy inception:
(A)a life insurance policy is purchased with resources or
guarantees from or through a person that is not legally
permitted to initiate the life insurance policy; and
(B)a written or verbal arrangement or agreement is made to
transfer the ownership of the life insurance policy or policy
benefits to a third party.
(2)A trust that is:
(A)created to give an appearance of the existence of an
insurable intere
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Legislative History
As added by P.L.112-2008, SEC.3.
Nearby Sections
15
§ 27-1-1-1
Creation; functions§ 27-1-1-2
Insurance commissioner§ 27-1-1-3
Personnel§ 27-1-1-4
Repealed§ 27-1-1-5
Repealed§ 27-1-1.5-10
"Annual Statement Blank"§ 27-1-1.5-11
"Annual Statement Instructions"§ 27-1-1.5-12
"Current Dental Terminology"; "CDT"§ 27-1-1.5-13
"Current Procedural Terminology"; "CPT"§ 27-1-1.5-15
"Financial Analysis Handbook"§ 27-1-1.5-16
"Financial Condition Examiner's Handbook"§ 27-1-1.5-18
"Healthcare Common Procedure Coding System"; "HCPCS"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 27-8-19.8-7.8, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/27-8-19.8-7.8.