Group Life Insurance Provisions (IC 27-1-12-29 through 27-1-12-42)

What this document is

Indiana Code Title 27, Article 1, Chapter 12 - Group Life Insurance Provisions (IC 27-1-12-29 through 27-1-12-42) 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 § 27-1-12-41(b)(7) (Group Life Insurance; Required Provisions: Certificate)

  “(7) A provision that the insurer will issue to the policyholder, for delivery to each person insured, a certificate setting forth a statement that: (A) explains the insurance protection to which the person insured is entitled; (B) indicates to whom the insurance benefits are payable; (C) explains...”

• Ind. Code tit. 27 § 27-1-12-42(b) (Group Life Insurance; Conversion Rights; Notice; Time to Exercise Rights)

  “The additional period created under subsection (a) for exercise of a right of conversion expires fifteen (15) days after the person is given notice of the conversion right. However, irrespective of the date on which notice is given or of the absence of any notice, the additional period may not...”

• Ind. Code tit. 27 § 27-1-12-41(b)(8)(C) (Group Life Insurance; Conversion Privilege: Premium on Individual Policy)

  “(C) the premium on the individual policy must be at the insurer's then customary rate applicable to the form and amount of the individual policy, to the class of risk to which the person or dependent then belongs, and to the individual age attained by the person or dependent on the effective date...”

• Ind. Code tit. 27 § 27-1-12-37(1)(B) (Group Life Insurance; Eligible Policyholders: Employer Policy Premium and Participation)

  “The premium for the policy must be paid either from the employer's funds, from funds contributed by the insured employees, or from both sources of funds. Except as provided in clause (C), a policy on which no part of the premium is to be derived from funds contributed by the insured employees must...”

• Ind. Code tit. 27 § 27-1-12-38(a), (b) (Group Life Insurance; Requirements for Issuance of Policy to Certain Groups)

  “(a) Group life insurance offered to a resident of Indiana under a group life insurance policy issued to a group other than one described in section 37(1)(A), (2)(A), (3)(A), (4)(A), (5)(A), or (6)(A) of this chapter is subject to the requirements set forth in subsections (b) through (e). (b) A...”

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