{"data":{"id":"us-in/ic-27-8-19.8-7.8","jurisdiction":"us-in","citation":"IC 27-8-19.8-7.8","heading":"\"Stranger originated life insurance\" defined","body":"Sec. 7.8. (a) As used in this chapter, \"stranger originated life insurance\" means a practice or plan to initiate a life insurance policy for the benefit of a third party investor who, at the time the life insurance policy is originated, has no insurable interest in the insured.\n(b) The term includes the following:\n(1) An arrangement under which, at the time of life insurance policy inception:\n(A) a life insurance policy is purchased with resources or guarantees from or through a person that is not legally permitted to initiate the life insurance policy; and\n(B) a written or verbal arrangement or agreement is made to transfer the ownership of the life insurance policy or policy benefits to a third party.\n(2) A trust that is:\n(A) created to give an appearance of the existence of an insurable interest; and\n(B) used to initiate a life insurance policy for an investor.","path":["TITLE 27. INSURANCE","ARTICLE 8. LIFE, ACCIDENT, AND HEALTH","Chapter 19.8. Viatical Settlements"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-8-19.8-7.8","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"1255ca490644c42f1dfb4398443b6d179cf608463537e7e6679cab79eacfbae5","source_id":"us-in","stale":false,"prev":"us-in/ic-27-8-19.8-7","next":"us-in/ic-27-8-19.8-8"},"notice":"GroundRules: Original legal text. Not legal advice."}