20:06:06:04Credit health insurance -- Acceptable rates.

The acceptable rates for credit health insurance are as follows: (1) The following table gives the single premium rates for each per $100 of initial insured indebtedness: No. of months Nonretroactive Benefits Retroactive Benefits in which 14-day 30-day 14-day 30-day indebtedness nonretroactive nonretroactive retroactive retroactive is repayable 6 or less $ .88 $ .34 $1.60 $1.15 7-9 1.06 .52 1.78 1.33 10-12 1.24 .70 1.96 1.51 13-15 1.42 .88 2.14 1.69 16-18 1.60 1.06 2.32 1.87 19-21 1.78 1.24 2.50 2.05 22-24 1.96 1.42 2.68 2.23 25-27 2.14 1.60 2.86 2.41 28-30 2.32 1.78 3.04 2.59 31-33 2.50 1.96 3.22 2.77 34-36 2.68 2.14 3.40 2.95 37-39 2.79 2.25 3.51 3.06 40-42 2.91 2.37 3.63 3.18 43-45 3.01 2.47 3.73 3.28 46-48 3.13 2.59 3.85 3.40 49-51 3.22 2.68 3.94 3.49 52-54 3.31 2.77 4.03 3.58 55-57 3.40 2.86 4.12 3.67 58-60 3.49 2.95 4.21 3.76 61-63 3.58 3.04 4.30 3.85 64-66 3.67 3.13 4.39 3.94 67-69 3.76 3.22 4.48 4.03 70-72 3.85 3.31 4.57 4.12 73-75 3.94 3.40 4.66 4.21 76-78 4.03 3.49 4.75 4.30 79-81 4.12 3.58 4.84 4.39 82-84 4.21 3.67 4.93 4.48 85-87 4.30 3.76 5.02 4.57 88-90 4.39 3.85 5.11 4.66 91-93 4.48 3.94 5.20 4.75 94-96 4.57 4.03 5.29 4.84 97-99 4.66 4.12 5.38 4.93 100-102 4.75 4.21 5.47 5.02 103-105 4.84 4.30 5.56 5.11 106-108 4.93 4.39 5.65 5.20 109-111 5.02 4.48 5.74 5.29 112-114 5.11 4.57 5.83 5.38 115-117 5.20 4.66 5.92 5.47 118-120 5.29 4.75 6.01 5.56 (2) Premiums payable other than on a single premium basis or for benefits on a basis different than illustrated above shall be actuarially consistent with the rates specified above.

Source: 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.