§ 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.

HISTORY: An. Code 1957, art. 48A, § 436D; 1996, ch. 11.