§ 58-57-10. Forms of insurance which are authorized. - North Carolina Statutes

§58‑57‑10.  Forms of insurance which are authorized.

Credit life insurance andcredit accident and health insurance shall be issued only in the followingforms:

(1)        Individual policiesof life insurance issued to debtors on the term plan;

(2)        Individual policiesof accident and health insurance issued to debtors on a term plan or disabilitybenefit provisions in individual policies of credit life insurance;

(3)        Group policies oflife insurance issued to creditors providing insurance upon the lives of debtorson the term plan;

(4)        Group policies ofaccident and health insurance issued to creditors on a term plan insuringdebtors or disability benefit provisions in group credit life insurancepolicies to provide such coverage. (1975, c. 660, s. 1.)