11 NCAC 12 .0714             REFUND OF UNEARNED PREMIUM FOR CREDIT INSURANCE

If credit life insurance coverage is sold together with any other credit insurance coverage, such as accident and health, and death occurs, then as of the date of death the credit life insurance premium is deemed to be fully earned, but the other credit insurance coverage(s) shall provide for a refund of unearned premium.  Such refund shall be made in accordance with the provisions of G.S. 58-57-50.

 

History Note:        Authority G.S. 58-2-40; 58-57-50;

Eff. July 1, 2010.