41-2306 — AMOUNT OF INSURANCE

Code Resources

Idaho Resources
Idaho Website
Idaho Governor
Idaho Legislature
Idaho Courts

Search this Code
in Google Scholar

on the Web
Google Web Search
MSN Web Search
Yahoo! Web Search

in the News
Google News Search
Google News Archive Search
Yahoo! News Search

in the Blogs
BlawgSearch.com Search
Google Blog Search
Technorati Blog Search

in other Databases
Google Book Search 

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 23
                            CREDIT LIFE AND CREDIT
                             DISABILITY INSURANCE
    41-2306.  AMOUNT OF INSURANCE. (1) Credit life insurance:
    (a)  The amount of credit life insurance shall not exceed the initial
indebtedness, however the indebtedness may be repayable.
    (b)  In cases where an indebtedness is repayable in substantially equal
instalments, the amount of insurance shall at no time exceed the scheduled or
actual amount of unpaid indebtedness, whichever is greater.
    (c)  Notwithstanding the provisions of (a) or (b) above, insurance on
agricultural credit transactions not exceeding one year in duration may be
written up to the amount of the loan commitment on a nondecreasing or level
term plan.
    (d)  Except, that the amount of insurance provided under a group insurance
contract shall be subject to section 41-2005(4) (debtor groups).
    (2)  Credit disability insurance: The total amount of indemnity payable by
credit disability insurance in the event of disability, as defined in the
policy, shall not exceed the aggregate of the periodic scheduled unpaid
instalments of the indebtedness; and the amount of each periodic indemnity
payment shall not exceed the original indebtedness divided by the number of
periodic instalments.