760 IAC 1-16.1-1 Purpose of rule

Sec. 1. The purpose of 760 IAC 1-16.1 is: (A) To regulate the activities of insurers and agents with respect to the replacement of all forms of existing life insurance, including annuities, except as specifically exempted by 760 IAC 1-16.1-4. (B) To protect the interests of life insurance policyowners by establishing minimum standards of conduct to be observed in the replacement or proposed replacement of existing life insurance. (C) To establish penalties for failure to comply with the requirements of 760 IAC 1-16.1.