Terms Used In Indiana Code 27-1-12.3-3

• Insurer: means an entity issuing a policy. See Indiana Code 27-1-12.3-1
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• interest rate: means the rate of interest on policy loans, including the rate of interest charged on reinstatement of policy loans for the period during and after any lapse. See Indiana Code 27-1-12.3-1
• Policyholder: includes the owner of the policy or the person designated to pay premiums as shown on the records of the life insurer. See Indiana Code 27-1-12.3-1
• premium: means money or any other thing of value paid or given in consideration to an insurer, insurance producer, or solicitor on account of or in connection with a contract of insurance and shall include as a part but not in limitation of the above, policy fees, admission fees, membership fees and regular or special assessments and payments made on account of annuities. See Indiana Code 27-1-2-3