The premium rates for credit life insurance specified in § 20:06:06:03 shall be presumed not excessive only in relation to a plan of death benefits, with or without requirements for evidence of insurability. The insurance shall contain no exclusions, exceptions, or limitations on coverage other than for suicide within one year from the effective date of the insurance and shall contain no age restrictions other than those making debtors 65 or over at the time the indebtedness is incurred ineligible for the coverage.

Source: 5 SDR 91, effective April 25, 1979; 12 SDR 151, 12 SDR 155, effective July 1, 1986.

General Authority: SDCL 58-19-34.

Law Implemented: SDCL 58-19-26.