(1) In applying the provisions of this title on unconscionability (Sections 37-5-108 and 37-6-111) to a separate charge for insurance, consideration shall be given, among other factors, to:
- (a) potential benefits to the debtor including the satisfaction of his obligations;
- (b) the creditor's need for the protection provided by the insurance; and
- (c) the relation between the amount and terms of credit granted and the insurance benefits provided.
- (2) If consumer credit insurance otherwise complies with this chapter and other applicable law, neither the amount nor the term of the insurance nor the amount of a charge therefor is in itself unconscionable.
HISTORY: 1962 Code Section 8-800.296; 1974 (58) 2879.