From DNR site....Now available , residents born after March 31, 1943 and who are at least 64 years old will be required to purchase either a $3 senior fishing license each year, or a one-time $17 Fish-for-Life senior license to be able to fish in public waters. The $17 fee is the same price that 64-year old anglers used to pay for their yearly license; however, the Fish-for-Life license will be the last fishing license a person will ever need to purchase in Indiana. Both of the senior fishing licenses also include the trout/salmon stamp.
Indiana residents born before April 1, 1943 will continue to be exempt from having to buy either of the two discounted senior licenses. In other words, these seniors who currently fish public waters at no charge will not be affected by the new law, except by reaping benefits gained from use of the additional federal funding.