Ind. Code § 27-1-15.6-31
Producers not to be named as beneficiaries
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Citation
- Ind. Code § 27-1-15.6-31, Producers not to be named as beneficiaries, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1661854
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Full text
Sec. 31. An insurance producer shall not:
(1) be named a beneficiary of;
(2) become an owner of; or
(3) receive a collateral assignment of;
an individual life insurance policy or individual annuity contract unless the insurance producer has an insurable interest in the life of the insured or annuitant. A beneficiary designation, ownership designation, or collateral assignment made in violation of this section is void.