Credit life insurance may be issued only as:
(1) an individual policy of life insurance issued to a debtor on a term plan; or
(2) a group policy of life insurance issued to a creditor on a term plan providing insurance on the lives of debtors.
Tex. Ins. Code § 1153.151
FORMS OF CREDIT LIFE INSURANCE
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.