Accident and Sickness Insurance: Policy Provisions (IC 27-8-5, individual and general provisions)

What this document is

Indiana Code Title 27, Article 8, Chapter 5 - Accident and Sickness Insurance: Policy Provisions (IC 27-8-5, individual and general provisions) is a state statute published by iga.in.gov. It is one of the Indiana documents that insurance license exam questions are written from, including indiana life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Ind. Code tit. 27 § 27-8-5-3(a)(6) (Required provisions: Claim Forms)

  “The insurer, upon receipt of a notice of claim, will furnish to the claimant such forms as are usually furnished by it for filing proofs of loss. If such forms are not furnished within fifteen (15) days after the giving of such notice, the claimant shall be deemed to have complied with the...”

• Ind. Code tit. 27 § 27-8-5-3(a)(3) (Required provisions: Grace Period; refusal to renew on an individual basis)

  “Each policy in which the insurer reserves the right to refuse renewal on an individual basis shall provide, in substance, in a provision of the policy, in an endorsement on the policy, or in a rider attached to the policy, that subject to the right to terminate the policy upon non-payment of...”

• Ind. Code tit. 27 § 27-8-5-3(a)(5) (Required provisions: Notice of Claim)

  “Notice given by or on behalf of the insured or the beneficiary to the insurer at _______ (insert the location of such office as the insurer may designate for the purpose), or to any authorized agent of the insurer, with information sufficient to identify the insured, shall be deemed notice to the insurer.”

• Ind. Code tit. 27 § 27-8-5-3(a)(2) (Required provisions: Time Limit on Certain Defenses)

  “After two (2) years from the date of issue of this policy no misstatements, except fraudulent misstatements, made by the applicant in the application for such policy shall be used to void the policy or to deny a claim for loss incurred or disability (as defined in the policy) commencing after the...”

• Ind. Code tit. 27 § 27-8-5-3(a)(8) (Required provisions: Time of Payment of Claims)

  “Indemnities payable under this policy for any loss other than loss for which this policy provides any periodic payment will be paid: (1) immediately upon receipt of due written proof of such loss; or (2) in accordance with IC 27-8-5.7; whichever is more favorable to the policyholder.”

• Indiana Code Title 27, Article 8, Chapter 5 - Accident and Sickness Insurance: Policy Provisions, Ind. Code § 27-8-5-24

  “Sec. 24. If an insurer cancels or declines to renew a group accident and sickness policy for reasons other than fraud or nonpayment of a premium and issues a new policy to the policyholder within one (1) year after the effective date of cancellation of the policy, the insurer must accept for...”

• Indiana Code Title 27, Article 8, Chapter 5 - Accident and Sickness Insurance: Policy Provisions, Ind. Code § 27-8-5-22(a), (b), (c)

  “Sec. 22. (a) All individual policies of accident and sickness insurance issued for delivery in Indiana after June 30, 1990, must provide for the refund of unused premiums upon the death of the insured during the contract period. (b) The amount of premium refund shall be prorated from the date...”

• Indiana Code Title 27, Article 8, Chapter 5 - Accident and Sickness Insurance: Policy Provisions, Ind. Code § 27-8-5-20(a), (b)

  “Sec. 20. (a) All individual accident and health insurance policies, other than those issued pursuant to direct response solicitation, must have a notice prominently printed on the first page of the policy stating in substance that the policyholder has the right to return the policy: (1) except as...”

• Ind. Code tit. 27 § 27-8-5-3(a)(11) (Required provisions: Legal Actions)

  “(11) A provision as follows: LEGAL ACTIONS: No action at law or in equity shall be brought to recover on this policy prior to the expiration of sixty (60) days after written proof of loss has been furnished in accordance with the requirements of this policy. No such action shall be brought after...”

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