California Financial Code

§ 22321

FIN § 22321 Effective Jan 1, 1995Div. 9 · Ch. 2 · Art. 3

Statute text

If credit loss-of-income insurance is provided pursuant to this division, it shall be subject to the following conditions:

(a)The insurance shall provide indemnity in accordance with the terms of the policy after any single period of continuous unemployment of 45 days or less as determined by the policy, after which benefits shall commence. The insurance may be offered with retroactive coverage to an earlier date based upon unemployment having continued for the period stated in the policy.

(b)The statement required by Section 22337 shall include disclosure of the term of the coverage, the conditions of coverage, the benefits to be paid, and the exclusions from coverage.

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Legislative history

Added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.