Section 17B:29-3 - Forms of credit life insurance and credit health insuranceCredit life insurance and credit health insurance shall be issued only in the following forms:
a. Individual policies of life insurance issued to debtors on the term plan;b. Individual policies of health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;c. Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;d. Group policies of health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.L.1971, c.144, s.17B:29-3.