Ind. Code § 27-1-12.3-4
This is the official text of Ind. Code § 27-1-12.3-4, 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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Loan value of policy; determination; termination of policy due to increase in interest rate
Official statutory text
Sec. 4. (a) The loan value of a policy shall be determined in accordance with IC 27-1-12-6(8); however, a policy shall not terminate in a policy year as the sole result of an increase in the interest rate and the failure of the policyholder to pay the amount of interest required by that increase during that policy year. In such event, the insurer shall maintain coverage during that policy year until the time at which the policy would otherwise have terminated if there had been no change during that policy year.
As added by Acts 1981, P.L.240, SEC.1.
As added by Acts 1981, P.L.240, SEC.1.
Status: in_force · Read it on the official government site
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