Maine § 24-A §2854 Forms available

Maine Statutes

§ 24-A §2854 — Forms available

Maine § 24-A §2854

Title 24-AMAINE INSURANCE CODE

Ch. 37CONSUMER CREDIT INSURANCE

This text of Maine § 24-A §2854 (Forms available) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §2854 (2026).

Text

Consumer credit insurance may be issued only in the following forms:

1.Individual life. Individual policies of life insurance issued to debtors on the term plan;

2.Individual accident and health. Individual policies of health insurance issued to debtors on a term plan, or disability benefit provisions in individual policies of credit life insurance;

3.Group life. Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;

4.Group accident and health. Group policies of 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; 4-A. Individual credit property insurance. Individual policies of property insurance on property

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Consumer credit insurance may be issued only in the following forms:
1.
Individual life.
Individual policies of life insurance issued to debtors on the term plan;
2.
Individual accident and health.
Individual policies of health insurance issued to debtors on a term plan, or disability benefit provisions in individual policies of credit life insurance;
3.
Group life.
Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
4.
Group accident and health.
Group policies of 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;
4-A.
Individual credit property insurance.
Individual policies of property insurance on property that is purchased on credit or pledged as collateral on a loan when the insurance is purchased by or issued to the debtor in connection with that loan or credit transaction;
4-B.
Group credit property insurance.
Group policies of property insurance on property that is purchased on credit or pledged as collateral on a loan when the insurance is purchased by or issued to the debtor in connection with that loan or credit transaction;
4-C.
Individual credit involuntary unemployment insurance.
Individual involuntary unemployment policies insuring a debtor pursuant to or in connection with a specific loan or other credit transaction but not including disability insurance policies;
4-D.
Group credit involuntary unemployment insurance.
Group involuntary unemployment policies insuring a debtor pursuant to or in connection with a specific loan or other credit transaction but not including disability insurance policies; or
5.
Combination.
A combination under subsections 1 and 2, or under 3 and 4.
The superintendent may by rules adopted pursuant to section 2865 or chapter 40‑A designate other permissible types of consumer credit insurance.