Section 13-105 - Forms of Insurance

Credit life insurance, credit health insurance, and credit involuntary unemployment benefit insurance shall be issued only in the following forms: (1) an individual policy of life insurance issued to a debtor on a term plan; (2) an individual policy of health insurance issued to a debtor on a term plan; (3) a disability benefit provision in an individual policy of credit life insurance; (4) an individual policy of involuntary unemployment benefit insurance issued to a debtor on a term plan; (5) a group policy of life insurance issued to a creditor that provides insurance on the lives of debtors on the term plan; (6) a group policy of health insurance issued to a creditor on a term plan that insures debtors; (7) a disability benefit provision in a group policy of credit life insurance; or (8) a group policy of involuntary unemployment benefit insurance issued to a creditor on a term plan that insures debtors.