627.6785 Filing of rates with department.—
(1) Credit disability and credit life insurers shall file with the office a copy of all rates and any rate changes used in this state.
(2) No credit disability rate and no credit life rate shall exceed the maximum allowable rate promulgated by the commission.
(3) No credit life rate or credit disability rate shall be deemed to comply with the allowable rate criteria contained in this part if it contains age restrictions which make ineligible for credit life those debtors or lessors 70 years of age or under, or for credit disability those debtors or lessors 65 years of age or under, at the time the indebtedness is incurred. However, for credit life, the coverage shall be provided, at a minimum, until the earlier of the maturity date of the loan or the loan anniversary at age 71, and, for credit disability, the coverage shall be provided, at a minimum, until the earlier of the maturity date of the loan or the loan anniversary at age 66.
History.—ss. 530, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 14, ch. 90-119; s. 114, ch. 92-318; s. 1179, ch. 2003-261.
Section: Previous 627.676 627.677 627.678 627.6785 627.679 627.681 627.682 627.683 627.684 627.6841 627.6842 627.6843 627.6844 627.6845 NextLast modified: September 23, 2016