Ind. Code § 27-1-12-43
Life insurance provision allowing for right to return policy
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-1-12-43, Life insurance provision allowing for right to return policy, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1661683
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Full text
Sec. 43.
(a) As used in this section, "life insurance policy" means:
(1) an individual life insurance policy other than a credit life insurance policy; or
(2) an individual policy of variable life insurance;
that is sold after June 30, 1994.
(b) No life insurance policy may be issued in Indiana or issued for delivery in Indiana unless it contains a provision allowing the policyholder to return the policy to:
(1) the insurer;
(2) the insurance producer through whom the policy was purchased; or
(3) any agent of the insurer;
within ten (10) days after the policy is received by the policyholder for a full refund of all money paid by the policyholder.
(c) Each life insurance policy must have prominently printed on its first page a notice setting forth in substance the provisions of subsection (b).