§ 26-21-110 — Collection of premiums

The insurance premium or other identifiable charge for credit
life or credit disability insurance may be collected from the
insured or included in the principal of any loan or other
transaction at the time the transaction is completed. If
included in the principal of the loan or other transaction, a
statement that the premium is included in the principal and the
amount of the premium shall be legible on the face of the policy
or certificate in a size larger than the type used in the body
of the policy or certificate.