Delivery of certificate of insurance to insured debtors provision

In the case of a policy insuring the lives of debtors, a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a certificate of insurance describing the coverage and specifying that the death benefit shall first be applied to reduce or extinguish the indebtedness shall be included. Acts 1981, No. 898, § 21; A.S.A. 1947, § 66-3521. In the case of a policy insuring the lives of debtors, a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a certificate of insurance describing the coverage and specifying that the death benefit shall first be applied to reduce or extinguish the indebtedness shall be included. Acts 1981, No. 898, § 21; A.S.A. 1947, § 66-3521.