Indiana Code 27-8-19.8-8. “Viator” defined
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Terms Used In Indiana Code 27-8-19.8-8
- Contract: A legal written agreement that becomes binding when signed.
- insured: refers to an individual whose life is the subject of insurance under a life insurance policy or contract. See Indiana Code 27-8-19.8-3
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Sec. 8. As used in this chapter, “viator” refers to the owner of a life insurance policy or a certificate holder under a group policy that insures the life of an insured who enters or seeks to enter into a viatical settlement contract.
As added by P.L.130-1994, SEC.47 and P.L.116-1994, SEC.70. Amended by P.L.32-1998, SEC.9.