Prearranged funeral insurance

Sec. 19. (a) As used in this section, "prearranged funeral insurance" means insurance that is used to fund any of the following: (1) A funeral trust under IC 30-2-10 and IC 30-2-13. (2) Any other arrangement for advance payment of funeral and burial expenses. (b) A person shall not sell, solicit, or negotiate prearranged funeral insurance unless the person is licensed as either of the following: (1) An insurance producer with a life qualification under section 7 of this chapter. (2) A limited lines producer. (c) A person may be licensed as a limited lines producer to sell only prearranged funeral insurance if the person is: (1) licensed under IC 25-15-4-3; and (2) granted a change in status under subsection (d). (d) If, after a person is licensed under this chapter as an insurance producer with a life qualification, the person wants to limit the person's insurance business solely to the sale of prearranged funeral insurance, the person must: (1) request the commissioner to issue the person a limited lines producer's license under this chapter; and (2) show proof of having completed ten (10) hours of continuing education credit approved by the department. (e) If the commissioner receives a request and proof under subsection (d), the commissioner shall issue a limited lines producer's license, subject to the provisions of this chapter relating to limited lines producer's licenses. (f) A person issued a limited lines producer's license under subsection (e) may sell only prearranged funeral insurance.