1.  If the individual policy or group certificate is not delivered to the debtor at the time the debt is incurred or at such other time as the debtor purchases consumer credit insurance, a copy of the application or a notice of proposed insurance, signed by the debtor, must be delivered to the debtor. The application or notice of proposed insurance must include:

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(a) The name and address of the home office of the insurer;

(b) The name of each debtor;

(c) The premium or amount of payment by the debtor for the insurance;

(d) The amount, term and a brief description of the coverage; and

(e) A statement that upon acceptance by the insurer, the insurance will become effective as described in NRS 690A.063.

2.  The application or notice of insurance provided pursuant to subsection 1 must:

(a) Refer exclusively to consumer credit insurance; and

(b) Be separate from the loan, sale or other credit statement, instrument or agreement unless the information required pursuant to subsection 1 is prominently set forth in the statement, instrument or agreement.

3.  The application or notice of insurance provided pursuant to subsection 1 may be used to meet the requirements of NRS 690A.073 and 690A.077 if it includes the information required by those sections.