(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.As added by P.L.276-2013, SEC.10.
Indiana Legal Code