In the case of a group life policy issued to a creditor to insure debtors of such creditor, there shall be a provision in such policy that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a certificate or statement of coverage form which shall contain a statement that the life of the debtor is insured under the policy and that any death benefit paid thereunder by reason of his death shall be applied to reduce or extinguish the indebtedness.
Structure West Virginia Code
Article 14. Group Life Insurance
§33-14-5a. Credit Union Groups
§33-14-6. Limits of Group Life Insurance
§33-14-8. Group Life Standard Provisions
§33-14-13. Misstatement of Age
§33-14-16. Conversion on Termination of Employment or of Membership in Eligible Class
§33-14-17. Conversion on Termination of Policy
§33-14-18. Death Pending Conversion
§33-14-19. Certificate or Statement of Coverage to Debtor
§33-14-20. Notice of Conversion Rights
§33-14-21. Application of Dividends and Rate Reductions to Cost of Insurance
§33-14-22. Group Annuity Contracts -- Standard Provisions
§33-14-23. Same -- Grace Period
§33-14-24. Same -- Entire Contract
§33-14-25. Same -- Misstatements
§33-14-26. Same -- Termination Benefits