IC 27-1-38-9: Required disclosures before sale of insurance

Sec. 9. (a) This section applies as follows:

(1) To an affiliate of a depository institution only to the extent that the affiliate sells, solicits, advertises, or offers insurance at the office of a depository institution or on behalf of a depository institution.

(2) To the:

(A) sale of;

(B) solicitation for; or

(C) application for;

insurance by an individual primarily for personal, family, or household purposes and only to the extent that a disclosure is accurate.

(b) A depository institution or an affiliate of a depository institution that solicits, sells, advertises, or offers insurance, and a person that sells, solicits, advertises, or offers insurance on behalf of a depository institution, shall disclose to a customer, in writing where practicable, in a clear and conspicuous manner, and before a sale of insurance, that the insurance:

(1) is not a deposit;

(2) is not insured by the Federal Deposit Insurance Corporation or another federal government agency;

(3) is not guaranteed by the depository institution, the affiliate of a depository institution, or the person that sells, solicits, advertises, or offers insurance on behalf of a depository institution; and

(4) involves investment risk including possible loss of value, if appropriate.