If g is reductive then the index of g is also the rank of g, because the adjoint and coadjoint representation are isomorphic and rk g is the minimal dimension of a stabilizer of an element in g. This is actually the dimension of the stabilizer of any regular element in g.
If ind g=0, then g is called Frobenius Lie algebra. This is equivalent to the fact that the Kirillov form is non-singular for some ξ in g*. Another equivalent condition when g is the Lie algebra of an algebraic groupG, is that g is Frobenius if and only if G has an open orbit in g* under the coadjoint representation.
^Panyushev, Dmitri I. (2003). "The index of a Lie algebra, the centralizer of a nilpotent element, and the normalizer of the centralizer". Mathematical Proceedings of the Cambridge Philosophical Society. 134 (1): 41–59. doi:10.1017/S0305004102006230.