Forms and plans Credit life insurance and credit accident and health 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) group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; (4) 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. (Added 1959, No. 221, § 3.)
Vermont Legal Code