(815 ILCS 137/40)
Pre-paid insurance products and warranties.
No lender shall
transfer, deal in, offer, or 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: P.A. 93-561, eff. 1-1-04.)