PURPOSE: This regulation specified two rights of debtors under contracts of credit accident and sickness insurance and was promulgated pursuant to the provisions of section 374.045, RSMo 1986 and to implement sections 376.405 and 376.777, RSMo 1986.

1. (1) No insurance company shall deliver or issue for delivery in this state any contract of credit accident and sickness insurance unless a copy of the contract or a certificate evidencing coverage under a group contract is delivered to the debtor-insured and unless the writing delivered provides that—

   1. (A) If the creditor and/or insurance company accepts a premium for credit accident and sickness insurance effecting coverage after any terminating age date specified in that insurance contract then that coverage will be extended until the end of the period for which that premium was paid, whether paid periodically or by single term.
   2. (B) If a loan is rewritten necessitating adjustment of the term of insurance, the adjusted insurance policy or certificate shall not impose a new period for time limit on certain defenses but shall recognize the time elapsed under the provisions of the original policy or certificate in satisfaction of the time limit on certain defenses.

AUTHORITY: sections 374.045, RSMo Supp. 1993, 376.405 and 376.777, RSMo 1986.* This rule was previously filed as 4 CSR 190- 14.020. This version of rule filed Sept. 18, 1974, effective March 1, 1975. *Original authority: 374.045, RSMo 1967, amended 1993, 376.405 and 376.777, RSMo 1959, amended 1984.