A lifetime LTC is needed if you plan to travel out of state and carry in those states that recognize Indiana licenses. I recommend keeping it updated. I consider it still helpful in-state, especially if you get pulled over. To me it helps the officer determine whether you are a proper person I would think. lol.. not sure though. I try not to do things to get me pulled over.
A number of years ago I moved, and called the ISP, and asked them what was required, the trooper asked for my new address, I gave it to her, and asked her where I change the address, you said "you just did" YMMV.... As CitizenX said...try not to do things that get you pulled over....