LA Rev Stat § 6:969.25 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§969.25. Consumer credit insurance

RS 969.25 - Consumer credit insurance A. An extender of credit may request or require a consumer to provide consumer credit insurance as additional security under the transaction. The extender of credit may also offer consumer credit insurance to the consumer for purchase on an optional basis. If the extender of credit offers consumer credit insurance for purchase on an optional basis, the creditor shall disclose to the consumer at the time of contracting his option to purchase such insurance coverage, and shall make such disclosures as are required by Regulation Z, 12 C.F.R. 226.1 et seq. The cost of consumer credit insurance, if required by the extender of credit, is deemed to be a portion of the credit service charge or loan finance charge for the purpose of computing maximum rates.  B. Consumer credit insurance may be written with respect to each individual who is an obligor or co-obligor under a motor vehicle credit transaction. The amount of credit life insurance coverage on any one obligor or co-obligor with respect to any one motor vehicle credit transaction may not exceed the total sum payable under such contract including all loan finance charges and credit service charges. Additionally, the amount of credit health and accident insurance coverage on any one obligor or co-obligor with respect to any one motor vehicle credit transaction may not exceed the total sum payable under such contract including all loan finance charges and credit service charges. C.(1) The premium rate for declining balance credit life insurance shall not exceed eighty cents per one hundred dollars per annum. (2) The premium rate for level term credit life insurance shall not exceed one dollar and sixty cents per one hundred dollars per annum. (3) The premium rate for joint credit life insurance shall not exceed one dollar and twenty cents per one hundred dollars per annum. (4) The premium rate for joint level term credit life insurance shall not exceed two dollars and forty cents per one hundred dollars per annum. D. The premium rate for credit dismemberment insurance shall not exceed twenty-five cents per one hundred dollars per annum. E.(1) No policy of credit health and accident insurance may be issued pursuant to a motor vehicle credit transaction other than seven-day, fourteen-day, or thirty-day retroactive health and accident insurance. (2) The premium rates for retroactive credit accident and health insurance issued pursuant to a motor vehicle credit transaction shall not exceed the rates set forth in the following schedule: Amount per $100.00 7-Day  14-Day 30-Day  Months   Retro   Retro   Retro  0 - 6 $1.75 $1.10 $ .85 more than 6 through 12  3.50  2.20  1.70 more than 12 through 24  4.30  3.00  2.50 more than 24 through 36  5.10  3.80  3.30 more than 36 through 48  5.60  4.60  4.10 more than 48 through 60  6.00  5.40  4.90 more than 60 through 72  6.80  6.20  5.70 more than 72 through 84  7.60  7.00  6.50 more than 84 through 96  8.40  7.80  7.30 more than 96 through 108  9.20  8.60  8.10 more than 108 through 120 10.00  9.40  8.90 F. Notwithstanding any other provision of law to the contrary, an extender of credit may offer any insurance authorized by the Louisiana Insurance Code in connection with any extension of credit subject to this Chapter. Acts 1999, No. 794, §1, eff. July 2, 1999.