(a) Except as provided in subsection (b) of this section, all credit life insurance, all credit health insurance, and all credit involuntary unemployment benefit insurance are subject to this title.

(b) This title does not apply to insurance if:

(1) the insurance is in connection with a loan or other credit transaction for which premiums are payable for more than 10 years; or

(2) the issuance of the insurance is an isolated transaction by an insurer that is not related to an agreement or plan for insuring debtors of the creditor.