Sec. 14. (a) In order to provide for full and fair disclosure in the sale of Medicare supplement policies, a Medicare supplement policy or certificate may not be delivered in Indiana unless an outline of coverage is delivered to the applicant at the time application is made.
(b) The commissioner shall prescribe by rule adopted under IC 4-22-2 the form and content of the outline of coverage required by subsection (a). For purposes of this section, "form" means style, arrangements, and overall appearance, including such items as the size, color, and prominence of type and arrangement of text and captions. The outline of coverage must include the following:
(1) A description of the principal benefits and coverage provided in the policy.
(2) A statement of the renewal provisions, including a reservation by the issuer of a right to change premiums, and a disclosure of the existence of any automatic premium increases based on the policyholder's age.
(3) A statement that the outline of coverage is a summary of the policy issued or applied for and that the policy should be consulted to determine governing contractual provisions.
As added by P.L.255-1989, SEC.11. Amended by P.L.126-1992, SEC.11.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 13. Medicare Supplement Insurance Solicitations
27-8-13-0.1. Application of Certain Amendments to Chapter
27-8-13-2. "Medicare Supplement Insurance Solicitation" Defined
27-8-13-3. "Medicare Supplement Policy"
27-8-13-4. Receipt for Materials Received by Soliciting Insurance Producer; "Materials" Defined
27-8-13-5. "Applicant" Defined
27-8-13-6. "Certificate" Defined
27-8-13-6.2. "Certificate Form" Defined
27-8-13-7.6. "Policy Form" Defined
27-8-13-8. Application of Chapter
27-8-13-9. Medicare Supplement Policies; Standards; Preexisting Medical Conditions
27-8-13-9.5. Medicare Supplement Policy or Certificate Requirements; Enrollment; Compensation
27-8-13-10.1. Model Medicare Supplement Policy Standards
27-8-13-12. Reasonable Benefits; Loss Ratio Standards
27-8-13-14. Outline of Coverage; Contents
27-8-13-15. Informational Brochures
27-8-13-17. Return Privilege Notice; Refund
27-8-13-18. Review and Approval of Proposed Advertisements