Indiana Code 32-17-14-24. Fraud, duress, undue influence, mistake, or lack of capacity
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Sec. 24. (a) A beneficiary designation or a revocation of a beneficiary designation that is procured by fraud, duress, undue influence, or mistake or because the owner lacked capacity is void.
(b) A beneficiary designation made under this chapter is subject to IC 29-1-2-12.1.
As added by P.L.143-2009, SEC.41.
Terms Used In Indiana Code 32-17-14-24
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fraud: Intentional deception resulting in injury to another.