17B:29-3 - Forms of credit life insurance and credit health insurance
17B:29-3. Forms of credit life insurance and credit health insurance
Credit life insurance and credit 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 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 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.
L.1971, c. 144, s. 17B:29-3.