Ind. Code § 27-1-12-18
This is the official text of Ind. Code § 27-1-12-18, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Contract to extend time for premium payments
Official statutory 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.
Formerly: Acts 1935, c.162, s.157.
Formerly: Acts 1935, c.162, s.157.
Status: in_force · Read it on the official government site
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