Indiana Life and Health Insurance Guaranty Association Law (IC 27-8-8)

What this document is

Indiana Code Title 27, Article 8, Chapter 8 - Indiana Life and Health Insurance Guaranty Association Law (IC 27-8-8) 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 § 27-8-8-18(a) (Advertising Referring to Association)

  “A person, including a member insurer, insurance producer, employee, agent, or affiliate of a member insurer, shall not make, publish, disseminate, circulate, or place before the public or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in...”

• Ind. Code tit. 27 § 27-8-8-2.3(c) (Avoidance of Duplicate Coverage)

  “To avoid duplicate coverage, if a person that would otherwise receive coverage under this chapter is provided coverage under the laws of another state, the person is not eligible for coverage under this chapter. In determining the application of this subsection when a person may be covered by the...”

• Ind. Code tit. 27 § 27-8-8-2(s) (Definition of Member Insurer)

  “(s) "Member insurer" means any person that holds a certificate of authority to transact in Indiana any kind of insurance or health maintenance organization business for which coverage is provided under section 2.3 of this chapter. The term includes an insurer whose certificate of authority to...”

• Ind. Code tit. 27 § 27-8-8-5(e) (Failure to Pay Premiums)

  “Failure to pay premiums within thirty-one (31) days after the date that payment is due under the terms of a guaranteed, assumed, alternative, or reissued policy or contract or substitute coverage terminates the association's obligations under this chapter with respect to the policy, contract, or...”

• Ind. Code tit. 27 § 27-8-8-5(c)(2)(D) (Substitute Coverage After Insolvency)

  “If made available under clause (C), alternative or reissued policies and contracts must be offered without requiring evidence of insurability and must not impose any waiting period or coverage exclusion, other than a waiting period or coverage exclusion provided for in this chapter, that would not...”

• Indiana Code Title 27, Article 8, Chapter 8 - Indiana Life and Health Insurance Guaranty Association Law, Ind. Code § 27-8-8-2.1(d)

  “(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.”

• Indiana Code Title 27, Article 8, Chapter 8 - Indiana Life and Health Insurance Guaranty Association Law, Ind. Code § 27-8-8-18(b)

  “(b) The association shall: (1) prepare a summary document: (A) describing the general purposes and current limitations of this chapter; and (B) complying with subsection (c); and (2) submit the summary document to the commissioner for approval. Sixty (60) days after the date on which the...”

• Indiana Code Title 27, Article 8, Chapter 8 - Indiana Life and Health Insurance Guaranty Association Law, Ind. Code § 27-8-8-16.2

  “Sec. 16.2. (a) A member insurer that is not eligible to take a credit under section 16 of this chapter may, after approval by the commissioner, place a surcharge on the member insurer's premiums in a sum reasonably calculated to recoup the member insurer's assessments over a reasonable period, as...”

• Ind. Code tit. 27 § 27-8-8-2.3(f)(2)(A) (Coverage provided; limitations: per life benefit limits, including annuity benefits)

  “(A) With respect to certificates, policies, and contracts not subject to clause (B), (C), (E), or (F), with respect to one (1) life, regardless of the number of policies or contracts, the following limitations: (i) Three hundred thousand dollars ($300,000) in life insurance death benefits, but not...”

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• Indiana Code Title 27, Article 1 - Department of Insurance: Department Created, Incorporation by Reference, Application of Article and Definitions, General Powers and Duties of the Department, and Examinations (IC 27-1-1, 27-1-1.5, 27-1-2, 27-1-3, 27-1-3.1)State statute