Sec. 4. (a) An insurer may require an applicant for coverage under a short term insurance plan to specify, before issuance of the short term insurance plan, the number of renewals the applicant elects.
(b) After issuance of a short term insurance plan, the insurer may not require underwriting of the short term insurance plan until:
(1) all renewal periods elected under subsection (a) have ended; and
(2) the covered individual renews the short term insurance plan beyond the periods described in subdivision (1).