CA SB989

Amends Section 779.2 of the Insurance Code to make technical, nonsubstantive changes to regulations governing life and disability insurance sold in connection with loans or credit transactions.

Excludes from article requirements insurance sold in connection with loans or credit transactions having a term of more than 10 years.

Excludes from article requirements insurance sold in isolated transactions by an insurer not related to an agreement or regular course of conduct for insuring debtors of the creditor.

Clarifies that the article does not relieve persons from compliance with other applicable state law, including Article 6.5 (commencing with Section 790), or affect existing case law.

Reorganizes and clarifies definitions of credit life insurance, credit disability insurance, creditor, debtor, and indebtedness without substantive changes to meaning.