Idaho State Statutes - Idaho Attorney Directory

(1) Except as provided in subsection (2)
of this section:
(a) In the case of credit insurance providing life coverage on an
individual policy basis, the amount of insurance may not initially exceed
the debt and, if the debt is payable in installments, may not at any time
exceed the greater of the scheduled or actual amount of the debt. The
amount of insurance provided under a group life insurance contract shall
be subject to the applicable provisions of sections 41-2005 (debtor
groups) and 41-2306 (amount of insurance), Idaho Code; or
(b) In the case of any other credit insurance, the total amount of
periodic benefits payable may not exceed the total of scheduled unpaid
installments of the debt, and the amount of any periodic benefit may not
exceed the original amount of debt divided by the number of periodic
installments in which it is payable.
(2) If credit insurance is provided in connection with an open-end
consumer credit account, the amounts payable as insurance benefits may be
reasonably commensurate with the amount of debt as it exists from time to
time. If credit insurance is provided in connection with a commitment to grant
credit in the future, the amounts payable as insurance benefits may be
reasonably commensurate with the total from time to time of the amount of debt
and the amount of the commitment. The amount of all group life insurance
issued under this subsection shall further be subject to the applicable
provisions of sections 41-2005 (debtor groups), 41-2306 (amount of insurance),
and 41-2308 (provisions of policies and certificates of insurance--disclosure
to debtors), Idaho Code.

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