Vermont § 4104 Forms and plans

Vermont Statutes

§ 4104 — Forms and plans

Vermont·Title 8 Title 8: Banking and Insurance·Ch. 109 Chapter 109: Credit Life Insurance and Credit Accident and Health Insurance

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; or

(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.

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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; or
(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.

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