Authority: IC 27-1-3-7

Affected: IC 27-4-1-8

Sec. 13.5. EXHIBIT B IMPORTANT NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE

1. You are thinking about DISCONTINUING or CHANGING an existing life insurance policy or annuity contract and BUYING a replacement. Your decision could be a good one – or possibly a mistake. Make sure that you understand the facts. You should: – Make a careful comparison of your existing policy and the proposed policy before you make a final decision. – Ask the company or agent that sold you your existing policy to provide you with complete information about it. – Determine what you want your insurance program to do. – Consider your present health. You may have had a change which could affect your insurability, so make sure to continue your present policy until a new policy is delivered to you and accepted by you.
2. You have the right, within twenty days after delivery of a replacement policy, to return it to the company and to claim an unconditional refund of all premiums paid on it. Indiana Department of Insurance Regulation, 760 IAC 1-16.1 requires that the company making the replacement notify your existing insurance that you may may be replacing your existing policy.

(Department of Insurance; 760 IAC 1-16.1-13.5; filed Aug 20, 1982, 2:58 pm: 5 IR 2236, eff Jan 1, 1983; 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 Nov 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA; readopted filed Nov 19, 2019, 9:18 a.m.: 20191218-IR-760190497RFA; readopted filed Oct 22, 2025, 3:17 p.m.: 20251119-IR-760240637RFA)