Idaho Administrative Code
Title IDAPA 18 - Insurance, Department of
Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE
Section 18.03.05.014 - PRIMA FACIE RATES
Universal Citation: ID Admin Code 18.03.05.014
Current through August 31, 2023
01. Credit Life Insurance Prima Facie Rates. (3-31-22)
a. The Director will post on the Department's
website the prima facie rates for credit life insurance that are to be used.
(3-31-22)
b. If the benefits
provided are other than those described in Paragraph 014.0l.a., premium rates
for such benefits will be actuarially consistent with the rates provided in
Paragraph 014.0l.a. (3-31-22)
c. If
the policy provisions are other than those that correspond to the use of rates
provided for in this subsection, those other provisions will not be unfair,
unjust, inequitable, misleading, or deceptive; encourage misrepresentation of
the coverage; or be contrary to statute or administrative rule.
(3-31-22)
02. Credit Disability Insurance Prima Facie Rates. (3-31-22)
a. The Director will post on the Department's
website the credit disability insurance prima facie rates that are to be used.
(3-31-22)
b. If the benefits
provided are other than those described in Paragraph 014.02.a., rates for such
benefits need to be actuarially consistent with rates provided in Paragraph
014.02.a. (3-31-22)
c. The
outstanding balance rate for credit disability insurance may be either a
term-specified rate or may be a single composite term outstanding balance rate
applicable to all loans. (3-31-22)
d. If the policy provisions are other than
those that correspond to the use of rate provided for in this Subsection, those
other provisions are not to be unfair, just, inequitable, misleading, or
deceptive; encourage misrepresentations of the coverage; or be contrary to
statute or administrative rule. (3-31-22)
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