760 Ind. Admin. Code 1-38.1-5.6

Current through December 25, 2024

Section 760 IAC 1-38.1-5.6 - "Group-type contract" defined

Authority: IC 27-1-3-7

Affected: IC 27-8-5-19

Sec. 5.6.

As used in this rule, "group-type contract" means a contract that is:

(1) not available to the general public; and

(2) obtained and maintained only because of:

(A) membership in; or

(B) a connection with;

a particular organization or group, including blanket coverage.

The term does not include any individually underwritten and issued guaranteed renewable policy even if the policy is purchased through payroll deduction at a premium savings to the insured since the insured would have the right to maintain or renew the policy independently of continued employment with the employer.

760 IAC 1-38.1-5.6

Department of Insurance; 760 IAC 1-38.1-5.6; filed Sep 15, 2006, 2:02 p.m.: 20061011-IR-760050265FRA; readopted filed Nov 21, 2012, 4:15 p.m.: 20121219-IR-760120454RFA

Readopted filed Nov 13, 2018, 10:02 a.m.: 20181212-IR-760180372RFA

Readopted filed 10/31/2024, 3:52 p.m.: 20241127-IR-760230814RFA