What happens to a credit life, credit disability or credit casualty license?
These will all be rolled into the new limited line credit. The new definition of “Limited line credit insurance” includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, automobile dealer gap insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing the credit obligation that the Commissioner determines should be designated a form of limited line credit insurance.
Related Questions
- I think the salesman pressured me into buying credit life and disability insurance and an extended contract when I didn’t really want one. What can I do?
- Does the credit union offer Credit Life or Credit Disability Insurance for loan products?
- How can I apply for credit life and disability insurance?
