What Is Limited Line Credit Insurance?

Limited line credit insurance includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, automobile dealer gap insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the commissioner determines should be designated a form of limited line credit insurance.

Other Kentucky Insurance FAQs

Q: What Is The Kentucky Definition Of An Insurance Agent?
A: An "agent" is an individual, firm or corporation appointed by an insurer to solicit applications for insurance or annuity contracts or to negotiate insurance or … More
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Q: What Is A Limited Line Credit Insurance Agent?
A: Limited line credit insurance agent means an individual or business entity who sells, solicits, or negotiates one or more forms of limited line credit insurance … More
Q: What Does Negotiate Mean In Insurance?
A: Negotiate means the act of conferring directly with, or offering advice directly to, a purchaser or prospective purchaser of a particular contract of insurance … More
Q: What Does Sell Mean In Insurance?
A: Sell means to exchange a contract of insurance by any means, for money or other valuable consideration, on behalf of an insurer. More
Q: What Does Solicit Mean In Insurance?
A: Solicit means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. More
Q: What Does Terminate Mean In Insurance?
A: Terminate means the cancellation of the relationship between an agent and the insurer or the termination of an agent's authority to transact insurance. More
Q: What Is The Uniform Business Entity Application?
A: Uniform business entity application means the current version of the National Association of Insurance Commissioners Uniform Business Entity Application for resident … More