Section 760 IAC 1-9-2 - Classification of individual policies Authority: IC 27-1-3-7
Affected: IC 27-8-5-1; IC 27-8-5-3
Sec. 2.
TYPES OF INDIVIDUAL ACCIDENT AND HEALTH INSURANCE POLICIES.
(A) Policies which are guaranteed renewable for life or to a specified age, such as 60 or 65, at guaranteed premium rates.(B) Policies which are guaranteed renewable for life or to a specified age, such as 60 or 65, but under which the insurer reserves the right to change the scale of premiums.(C) Policies, other than those in Type D, in which the insurer has reserved the right to cancel or refuse renewal for one or more reasons, but has agreed implicitly or explicitly that, prior to a specified time or age, it will not cancel or decline renewal solely because of deterioration of health after issue.(D) Franchise policies or certificates issued under or subject to an agreement that, except for stated reasons, the insurer will not cancel or refuse to renew the coverage of individual insureds prior to a specified age unless all coverage under the same group is terminated.(E) Commercial policies and other policies not falling within Types A to D, inclusive.Department of Insurance; Rule 9,II; filed Feb 3, 1964, 9:40 am: Rules and Regs. 1965, p. 102; 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-760130479RFA