Idaho State Statutes - Idaho Attorney Directory

(1) Credit insurance provided by a creditor
may be subject to the furnishing of evidence of insurability satisfactory to
the insurer. Whether or not such evidence is required, the term of the
insurance shall commence no later than when the debtor becomes obligated to
the creditor or when the debtor applies for the insurance, whichever is later,
except as follows:
(a) If any required evidence of insurability is not furnished until more
than thirty (30) days after the term would otherwise commence, the term
may commence on the date when the insurer determines the evidence to be
satisfactory; or
(b) If the creditor provides insurance not previously provided covering
debts previously created, the term may commence on the effective date of
the policy.
(2) The originally scheduled term of the insurance shall extend at least
until the due date of the last scheduled payment of the debt except as
follows:
(a) If the insurance relates to an open-end consumer credit account, the
term need only extend until the payment of the debt under the account and
may be sooner terminated after at least thirty (30) days notice to the
debtor; or
(b) If the debtor is advised in writing that the insurance will be
written for a specified shorter time, the term need only extend until the
end of the specified time.
(3) The term of the insurance shall not extend more than fifteen (15)
days after the originally scheduled due date of the last scheduled payment of
the debt unless it is extended without additional cost to the debtor or as an
incident to a deferral, refinancing, or consolidation.

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