§ 26-21-111 — Premium not deemed interest; gains to creditor not violation

The premium or cost of credit life or credit disability
insurance when issued through any creditor is not deemed
interest or charges, or consideration or an amount in excess of
permitted charges in connection with the loan or other credit
transaction. Any gain or advantage to the creditor arising out
of the premium or commission or dividend from the issuance of
the insurance is not a violation of any other law of this state.