Section 760 IAC 1-24-2 - Purpose of ruleAuthority: IC 27-1-3-7
Affected: IC 27-1-3-7
Sec. 2.
Purpose.
(A) The purpose of this regulation [ 760 IAC 1-24 ]is to require insurers to deliver to purchasers of life insurance information which will improve the buyer's ability to select the most appropriate plan of life insurance for his needs, improve the buyer's understanding of the basic features of the policy which has been purchased or which is under consideration and improve the ability of the buyer to evaluate the relative costs of similar plans of life insurance.(B) This regulation [ 760 IAC 1-24 ]does not prohibit the use of additional material which is not in violation of this regulation [ 760 IAC 1-24 ]or any other state statute or regulation. Department of Insurance; Reg 25, Sec 2; filed Dec 26, 1978, 11:10 am: 2 IR 165; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFAReadopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA