Ind. Code § 27-8-3-8
Assignment of policy to person without insurable interest void
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Citation
- Ind. Code § 27-8-3-8, Assignment of policy to person without insurable interest void, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663752
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Full text
Sec. 8. No corporation, association or society doing business of life insurance under this chapter shall issue any policy of life insurance in which the beneficiary named has no insurable interest. Any assignment of the policy or certificate to a person having no insurable interest in the insured life, except as security for actual debt, with remainder over to the beneficiary or to the estate of the insured, shall render such a policy or certificate void.