Credit life insurance, credit accident and health insurance, and credit involuntary unemployment insurance shall be issued only in the following forms:
(1) individual policies of life insurance issued to debtors on the term plan;
(2) 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;
(3) individual policies of involuntary unemployment insurance issued to debtors on the term plan;
(4) group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
(5) 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;
(6) group policies of involuntary unemployment insurance issued to creditors on a term plan insuring debtors.
Ex1967 c 2 s 3; 1993 c 343 s 10
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 62B — Credit Insurance
Section 62B.04 — Amount Of Credit Life Insurance And Credit Accident And Health Insurance.
Section 62B.05 — Term Of Credit Insurance.
Section 62B.06 — Provisions Of Policies And Certificates Of Insurance; Disclosure To Debtors.
Section 62B.07 — Regulation Of Rates And Forms.
Section 62B.08 — Premiums And Refunds.
Section 62B.09 — Issuance Of Policies.
Section 62B.11 — Existing Insurance; Choice Of Insurer.