Indiana Code 27-8-18-6. Reliance on good faith representations
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Terms Used In Indiana Code 27-8-18-6
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- life insurance policy: means an insurance policy that provides the type of insurance described in Class 1(a) of IC 27-1-5-1. See Indiana Code 27-8-18-3
Sec. 6. A life insurance company is entitled to rely on the representations made in apparent good faith by the owner or putative owner of a life insurance policy for the purpose of inducing the life insurance company to accept an entity as the owner or beneficiary of the life insurance policy.
As added by P.L.129-1992, SEC.1.