Ind. Code § 27-1-12-18
Contract to extend time for premium payments
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Citation
- Ind. Code § 27-1-12-18, Contract to extend time for premium payments, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1661657
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Full text
Sec. 18. A life insurance company may enter into subsequent agreements in writing with the insured, which need not be attached to the policy, to extend the time for the payment of any premium, or part thereof, upon condition that failure to comply with the terms of such agreement shall lapse the policy as provided in said agreement or in the policy. Subject to such lien as may be created to secure any indebtedness contracted by the insured in consideration of such extension, said agreement shall not impair any right existing under the policy.