Sec. 3. Credit life insurance and credit accident and health insurance shall be issued only in the following forms:
A. Individual policies of life insurance issued to debtors on the term plan;
B. Individual policies of accident and health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;
C. Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
D. Group policies of accident and health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.
Formerly: Acts 1961, c.47, s.3.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 4. Credit Life and Credit Accident and Health Insurance
27-8-4-0.1. Application of Certain Amendments to Chapter
27-8-4-2. Citation; Scope; Definitions
27-8-4-4. Limitations on Amount of Insurance
27-8-4-7. Filing of Documents; Disapproval of Form of Policy; Effect; Withdrawal of Approval; Review
27-8-4-8. Revision of Rate Schedules; Credit or Refund of Premiums
27-8-4-9. Persons Authorized to Issue or Deliver Policies
27-8-4-9.5. Debtor's Right to Cancel Policy; Required Provisions in Application Form; Time Limit
27-8-4-10. Report, Adjustment, and Settlement of Claims
27-8-4-11. Debtor's Choice of Insurer; Use of Existing Policies