IN SB0317

Requires employees to provide written consent before an employer can purchase life or disability insurance covering them, replacing the previous opt-out system where employees had 30 days to object

Limits the amount payable to the employer or trustee under employer-purchased life or disability insurance policies to no more than the employee's annual salary

Amends IC 27-1-12-17.1 regarding insurable interest requirements for employer-purchased insurance on employees

Effective date of July 1, 2013