IC 27-1-12.8-7: "Contractholder behavior"

Sec. 7. (a) As used in this chapter, "contractholder behavior" means an action taken by a contract holder, certificate holder, or another person possessing the right to elect options, including:

(1) lapse;

(2) withdrawal;

(3) transfer;

(4) deposit;

(5) premium payment;

(6) loan;

(7) annuitization;

(8) benefit elections; and

(9) other options;

under the contract.

(b) As used in this chapter, "contractholder behavior" does not include events of mortality or morbidity resulting in benefits prescribed according to the terms of the contract.