Section 1050.1260  Pre-paid Insurance Products and Warranties

No lender shall make a high risk home loan that finances a single premium credit life, credit disability, credit unemployment or any other life or health insurance, directly or indirectly.  Insurance calculated and paid on a monthly basis shall not be considered to be financed by the lender.

(Source:  Amended at 29 Ill. Reg. 14808, effective September 26, 2005)