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Indiana Code Title 27. Insurance § 27-8-8-2.1

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 2.1. (a) For purposes of this chapter:

(1) a policy or contract issued on a blanket basis is a group policy or group contract;

(2) each individual insured under a policy or contract issued on a blanket basis is a certificate holder under the policy or contract; and

(3) a policy or contract issued on a franchise plan to members of a qualified group is a nongroup policy or nongroup contract.

(b) For purposes of this chapter, a benefit plan may have only one (1) plan sponsor.

(c) For purposes of this chapter, an individual who, on the applicable coverage date:

(1) is a citizen of the United States; and

(2) resides in a:

(A) foreign country; or

(B) United States possession, territory, or protectorate;

that does not have an association similar to the association created by this chapter;

is considered to be a resident of the state of domicile of the insurer that issued the policies or contracts.

(d) For purposes of this chapter, benefits provided under a long term care insurance rider to:

(1) a life insurance policy; or

(2) an annuity contract;

are considered to be the same kind of benefits as the benefits under the life insurance policy or annuity contract to which the rider benefits relate.

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-8-8-2.1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-8-8-2-1/

Read this complete Indiana Code Title 27. Insurance § 27-8-8-2.1 on Westlaw. Westlaw subscription required.

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