Section 26-21-103 - Forms of credit life and credit disability insurance(a) Credit life insurance and credit disability insurance shall be issued only in the following forms: (i) Individual policies of life insurance issued to debtors on the term plan; (ii) Individual policies of disability insurance issued to debtors on a term plan, or disability benefit provisions in individual policies of credit life insurance; (iii) Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; (iv) Group policies of disability insurance issued to creditors on a term plan insuring debtors, or disability benefit provisions in group credit life insurance policies to provide disability coverage.