<html> <head> <title>Rule 20:06:06:03 Credit life insurance -- Acceptable rates.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:06:03"> <META NAME="Description" Content="Administrative Rules 20:06:06:03 Credit life insurance -- Acceptable rates."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:06:06:03.&nbsp;&nbsp;Credit life insurance -- Acceptable rates.</b> The acceptable rates for credit life insurance are as follows:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;For decreasing term credit life insurance, a single premium of $.56 a year for each $100 of initial insured indebtedness. A premium payable monthly at the rate of $.88 for each $1,000 of outstanding unpaid insured indebtedness will be considered the actuarial equivalent of the foregoing rate; and</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;For level term credit life insurance, a single premium of $1.02 a year for each $100 of initial indebtedness.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 4 SDR 6, effective August 9, 1977; 5 SDR 91, effective April 25, 1979; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 26 SDR 150, adopted May 21, 2000, effective July 1, 2000.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-19-34">58-19-34.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-19-26">58-19-26.</A></p> </div> </body> </html>