Sec. 38a-650. (Formerly 38-254). (a) All of the credit life insurance coverage and borrowing from the bank crash and medical health insurance sold would be confirmed by an individual rules or, regarding group insurance policies, of the a certificate from insurance rates, and that individual coverage otherwise group certificate away from insurance rates might be brought on debtor.
(b) Everyone plan otherwise classification certificate away from borrowing from the bank term life insurance or borrowing accident and you will medical health insurance shall, together with most other criteria off law, set forth title and you will family-place of work address of your insurance company, the name or names of the debtor, new advanced or quantity of payment, if any, by the debtor separately having credit life insurance policies and borrowing accident and medical insurance, an explanation of your own coverage such as the matter and you will label thereof, and you can people exceptions, limitations or limitations, and you will shall claim that advantages are going to be reduced to the collector to reduce otherwise extinguish the fresh new delinquent indebtedness and you may, regardless of where the level of insurance coverage may exceed the latest unpaid indebtedness, one to these continuously would be payable to help you a beneficiary, apart from the latest collector, named by the debtor or even his property. Continue reading “Processing regarding guidelines, certificates, riders having commissioner”