Sec. 9. (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.
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Terms Used In Indiana Code 27-2-23-9
- Contract: A legal written agreement that becomes binding when signed.
- 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. See Indiana Code 27-2-23-9
- record keeping services: means an insurer's responsibility, under an agreement with a group policy owner, to obtain, maintain, and administer in the insurer's system information concerning each individual insured under a group policy (or a line of coverage under a group policy), including at least the following:
Indiana Code 27-2-23-10
(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.
As added by P.L.90-2014, SEC.1. Amended by P.L.166-2015, SEC.3.
