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New Mexico Administrative Code

Part 2

Credit Life and Credit Health Insurance

State of New Mexico

1Issuing Agency 2Scope 3Statutory Authority 4Duration 5Effective Date 6Objective 7Definitions 8Termination upon Discharge of Indebtedness 9Continuation of Accident and Health Insurance Benefits 10Refund of Premiums 11Payments of Benefits to the Insured 12Policy Provisions 13Insurance for Periods Beyond Payment Period of the Policy 14Group Policy Termination Provisions 15Insured Finance Charges, Etc 16Open End Transactions 17Filing of Forms and Rates 18Presumptively Acceptable Credit Life Insurance Premiums (Prima Facie Rates)19Use of Joint Credit Life Insurance 20Composite Single Joint Outstanding Balance Rate (Prima Facie)21Actuarial Equivalent Premium for Unequal Monthly Installments 22Insurability Requirements Permitted 23Premium Rate Adjustments for Age Brackets 24Premium Rates for Other Lawful Benefits 25Insurability Requirements Permitted for Increased Open-ended Credit Life Insurance 26Presumptively Acceptable Relation of Credit Accident and Health Benefits to Premiums (Prima Facie)27Standard of Benefits for Credit Accident and Health Insurance 28Increases in Outstanding Balance Open-end Coverage 29Deviation Procedures 30Deviation Credibility Table 31Form Ci-drf 32Form Ci-drf 33Form Ci-drf 34Statistical Data 35Premium Refunds 36Responsibilities and Obligations of Insurance Companies 37Responsibilities and Obligations That May Be Delegated to the Group Policy Creditor or Agent 38Creditor Must Be First Beneficiary 39Authorized Representatives of the Insurer 40Requirements for Handling Claims 41Claim Reserves 42Approval and Re-filing of Forms 43Preexisting Conditions on Credit Life Insurance on Open-ended Credit 44Adjustment of Presumptively Acceptable Credit Life Insurance Premiums 45Adjustment of Presumptively Acceptable Credit Accident and Health Insurance Premiums