2005 Minnesota Statutes - 62B.03 — Forms of credit life insurance, credit accident and health insurance, and credit involuntary unemployment insurance.

     62B.03 Forms of credit life insurance, credit accident 
  and health insurance, and credit involuntary unemployment 
  insurance. 


    Credit life insurance, credit accident and health 
 insurance, and credit involuntary unemployment 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) individual policies of involuntary unemployment 
 insurance issued to debtors on the term plan; 


    (4) group policies of life insurance issued to creditors 
 providing insurance upon the lives of debtors on the term plan; 


    (5) 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; 


    (6) group policies of involuntary unemployment insurance 
 issued to creditors on a term plan insuring debtors. 


    HIST: Ex1967 c 2 s 3; 1993 c 343 s 10