Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.016 - CREDIT DISABILITY INSURANCE

Current through August 31, 2023
Premium rates in conformance with Section
				014 apply to policies providing
				credit disability insurance to be issued with or without evidence of
				insurability, to be offered to all eligible debtors, and containing:
				(3-31-22)
01.
Pre-existing
			 Conditions
. No provision excluding or denying a claim for disability
			 resulting from preexisting conditions except for those conditions for which the
			 insured debtor received medical advice, diagnosis or treatment within six (6)
			 months preceding the effective date of the debtor's coverage and which caused
			 loss within the six (6) months following the effective date of coverage.
			 (3-31-22)
02.
Other
			 Exclusions or Restrictions
. No other provision which excludes or
			 restricts liability in the event of disability caused in a specific manner
			 except that it may contain provisions excluding or restricting coverage in the
			 event of normal pregnancy and intentionally self-inflicted injuries or
			 disability arising out of the commission of felony acts. (3-31-22)
03.
Actively-at-Work
			 Requirement
. No actively-at-work requirement more restrictive than one
			 (1) requiring that the debtor be actively at work at a full-time gainful
			 occupation on the effective date of coverage. "Full time" means a regular work
			 week of not less than thirty (30) hours. A debtor is actively at work if absent
			 from work due solely to regular day off, holiday or paid vacation.
			 (3-31-22)
04.
Age
			 Restrictions
. No age restrictions, or only age restrictions making
			 ineligible for coverage debtors sixty-five (65) or over at the time the
			 indebtedness is incurred or debtors who will have attained age sixty-six (66)
			 or over on the maturity date of the indebtedness. (3-31-22)
05.
Daily Benefit
. A daily
			 benefit equal in amount to one thirtieth (1/30) of the monthly benefit payable
			 under the policy for the indebtedness. (3-31-22)
06.
Definition of Disability
. A
			 definition of "disability" which provides that during the first twelve (12)
			 months of disability the insured is unable to perform the substantial and
			 material duties of his occupation at the time the disability occurred, and
			 thereafter the duties of any occupation for which the insured is reasonably
			 fitted by education, training or experience. This does not apply to lump sum
			 disability coverage. (3-31-22)
07.
Open-End Credit Plan
. Insurance written in connection with an
			 open-end credit plan may exclude from the classes eligible for insurance
			 classes of debtors determined by age, and provide for the cessation of
			 insurance or reduction in the amount of insurance upon attainment of not less
			 than age sixty-five (65). (3-31-22)
08.
Other Provisions
. If the
			 policy provisions are other than those that correspond to the use of rates
			 provided for in Section
			 014, those other provisions are not
			 to be unfair, unjust, inequitable, misleading, or deceptive; encourage
			 misrepresentation of the coverage; or be contrary to statute or administrative
			 rule. (3-31-22)
09.
Effective
			 Date of Coverage
. For the purposes of Subsections
			 016.01 and
			 016.03, the effective date of
			 coverage for each part of the insurance attributable to a different advance or
			 charge to an open-end credit plan account is the date on which the advance or
			 charge is posted to the plan account. (3-31-22)