Vermont Statutes Title 8 Sec. 4104
Terms Used In Vermont Statutes Title 8 Sec. 4104
- Credit accident and health insurance: means insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy. See
- Credit life insurance: means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
§ 4104. Forms and plans
Credit life insurance and credit accident and health insurance shall be issued only in the following forms:
(1) individual policies of life insurance issued to debtors on the term plan;
(2) individual policies of accident and health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;
(3) group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
(4) group policies of accident and health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage. (Added 1959, No. 221, § 3.)