Naic: Model Bill To Provide For The Regulation Of Credit Life Insurance National Association Of Insurance Commissioners

Definition of "Naic: model bill to provide for the regulation of credit life insurance national association of insurance commissioners"

Derek  Ostrovski real estate agent
Derek Ostrovski, Real Estate Agent Coldwell Banker Residential Brokerage - Sun City Bell

Model state law of the NAIC that stipulates that the purchaser (debtor) of a credit life insurance (creditor life insurance) policy must be provided a descriptive policy; the policy must terminate if the indebtedness is discharged or if the indebtedness is transferred to another creditor; there must be complete disclosure of the premium charges to the debtor, and any unearned premiums must be refunded to the debtor.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions