Sec. 7. If any such policy contains a provision establishing, as an age limit or otherwise, a date after which the coverage provided by the policy will not be effective, and if such date falls within a period for which premium is accepted by the insurer or if the insurer accepts a premium after such date, the coverage provided by the policy will continue in force subject to any right of cancellation until the end of the period for which premium has been accepted. In the event the age of the insured has been misstated and if, according to the correct age of the insured, the coverage provided by the policy would not have become effective, or would have ceased prior to the acceptance of such premium or premiums, then the liability of the insurer shall be limited to the refund, upon request, of all premiums paid for the period not covered by the policy.
Formerly: Acts 1953, c.15, s.169.7.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 5. Accident and Sickness Insurance─policy Provisions
27-8-5-0.1. Application of Certain Amendments to Chapter
27-8-5-1. Policy of Accident and Sickness Insurance; Filing; Review; Conformity With Federal Act
27-8-5-1.5. Filing, Review, Approval, and Disapproval Process
27-8-5-2. Requirements for Issuance and Delivery of Policy
27-8-5-2.7. Individual Policy of Accident and Sickness Insurance; Waiver of Coverage
27-8-5-4. Effect of Other Policy Provisions or Policy Conflicting With Chapter
27-8-5-6. Defenses of Insurer; Acts Not Constituting Waiver
27-8-5-7. Acceptance of Premium for Period Beyond Termination Date; Effect; Misstatement of Age
27-8-5-9. Exemption of Certain Individual Policies
27-8-5-12. Supplementary Character of Chapter
27-8-5-14. Exception of Fraternal Benefit Associations
27-8-5-15.5. Inpatient Services for Treatment of Mental Illness or Substance Abuse
27-8-5-16. Policy of Group Accident and Sickness Insurance; Requirements
27-8-5-17. Exceptions; Discretionary Groups; Group Accident and Sickness Insurance
27-8-5-19. Contents; Group Accident and Sickness Insurance
27-8-5-20. Notice of Right to Return Policy
27-8-5-22. Refund of Unused Premiums
27-8-5-26. Post-Mastectomy Coverage
27-8-5-27. Dental Care Provisions Required
27-8-5-28. Coverage of Child to 26 Years of Age
27-8-5-29. Health Plans Offered Through Health Benefit Exchange