3 AAC 28.327. Consumer credit insurance written in connection with lease contracts

(a) For purposes of meeting the maximum amount of insurance requirements under AS 21.57.040 for consumer credit insurance on lease contracts, the maximum amount of insurance is the sum of the remaining lease payments including, if applicable, the payment of the fixed residual value.

(b) Credit disability and credit unemployment insurance may not be provided on the fixed residual value.

(c) Prima facie rates for consumer credit insurance on lease contracts are the actuarial equivalent of the premium rates established in 3 AAC 28.340 - 3 AAC 28.352.

History: Eff. 7/2/2001, Register 158

Authority: AS 21.06.090

AS 21.57.040

AS 21.57.130

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