La. Rev. Stat. § 6:969.25
This is the official text of La. Rev. Stat. § 6:969.25, part of Louisiana’s Rev. Stat — part of the compiled statutory law of Louisiana, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Consumer credit insurance
Official statutory text
A. An extender of credit may request or require a consumer to provide consumer credit insurance as additional security under the transaction. The extender of credit may also offer consumer credit insurance to the consumer for purchase on an optional basis. If the extender of credit offers consumer credit insurance for purchase on an optional basis, the creditor shall disclose to the consumer at the time of contracting his option to purchase such insurance coverage, and shall make such disclosures as are required by Regulation Z, 12 C.F.R. 226.1 et seq. The cost of consumer credit insurance, if required by the extender of credit, is deemed to be a portion of the credit service charge or loan finance charge for the purpose of computing maximum rates.
B. Consumer credit insurance may be written with respect to each individual who is an obligor or co-obligor under a motor vehicle credit transaction. The amount of credit life insurance coverage on any one obligor or co-obligor with respect to any one motor vehicle credit transaction may not exceed the total sum payable under such contract including all loan finance charges and credit service charges. Additionally, the amount of credit health and accident insurance coverage on any one obligor or co-obligor with respect to any one motor vehicle credit transaction may not exceed the total sum payable under such contract including all loan finance charges and credit service charges.
C.(1) The premium rate for declining balance credit life insurance shall not exceed eighty cents per one hundred dollars per annum.
(2) The premium rate for level term credit life insurance shall not exceed one dollar and sixty cents per one hundred dollars per annum.
(3) The premium rate for joint credit life insurance shall not exceed one dollar and twenty cents per one hundred dollars per annum.
(4) The premium rate for joint level term credit life insurance shall not exceed two dollars and forty cents per one hundred dollars per annum.
D. The premium rate for credit dismemberment insurance shall not exceed twenty-five cents per one hundred dollars per annum.
E.(1) No policy of credit health and accident insurance may be issued pursuant to a motor vehicle credit transaction other than seven-day, fourteen-day, or thirty-day retroactive health and accident insurance.
(2) The premium rates for retroactive credit accident and health insurance issued pursuant to a motor vehicle credit transaction shall not exceed the rates set forth in the following schedule:
Amount per $100.00
7-Day
14-Day
30-Day
Months
Retro
Retro
Retro
0 - 6
$1.75
$1.10
$ .85
more than 6 through 12
3.50
2.20
1.70
more than 12 through 24
4.30
3.00
2.50
more than 24 through 36
5.10
3.80
3.30
more than 36 through 48
5.60
4.60
4.10
more than 48 through 60
6.00
5.40
4.90
more than 60 through 72
6.80
6.20
5.70
more than 72 through 84
7.60
7.00
6.50
more than 84 through 96
8.40
7.80
7.30
more than 96 through 108
9.20
8.60
8.10
more than 108 through 120
10.00
9.40
8.90
F. Notwithstanding any other provision of law to the contrary, an extender of credit may offer any insurance authorized by the Louisiana Insurance Code in connection with any extension of credit subject to this Chapter.
Acts 1999, No. 794, §1, eff. July 2, 1999.
B. Consumer credit insurance may be written with respect to each individual who is an obligor or co-obligor under a motor vehicle credit transaction. The amount of credit life insurance coverage on any one obligor or co-obligor with respect to any one motor vehicle credit transaction may not exceed the total sum payable under such contract including all loan finance charges and credit service charges. Additionally, the amount of credit health and accident insurance coverage on any one obligor or co-obligor with respect to any one motor vehicle credit transaction may not exceed the total sum payable under such contract including all loan finance charges and credit service charges.
C.(1) The premium rate for declining balance credit life insurance shall not exceed eighty cents per one hundred dollars per annum.
(2) The premium rate for level term credit life insurance shall not exceed one dollar and sixty cents per one hundred dollars per annum.
(3) The premium rate for joint credit life insurance shall not exceed one dollar and twenty cents per one hundred dollars per annum.
(4) The premium rate for joint level term credit life insurance shall not exceed two dollars and forty cents per one hundred dollars per annum.
D. The premium rate for credit dismemberment insurance shall not exceed twenty-five cents per one hundred dollars per annum.
E.(1) No policy of credit health and accident insurance may be issued pursuant to a motor vehicle credit transaction other than seven-day, fourteen-day, or thirty-day retroactive health and accident insurance.
(2) The premium rates for retroactive credit accident and health insurance issued pursuant to a motor vehicle credit transaction shall not exceed the rates set forth in the following schedule:
Amount per $100.00
7-Day
14-Day
30-Day
Months
Retro
Retro
Retro
0 - 6
$1.75
$1.10
$ .85
more than 6 through 12
3.50
2.20
1.70
more than 12 through 24
4.30
3.00
2.50
more than 24 through 36
5.10
3.80
3.30
more than 36 through 48
5.60
4.60
4.10
more than 48 through 60
6.00
5.40
4.90
more than 60 through 72
6.80
6.20
5.70
more than 72 through 84
7.60
7.00
6.50
more than 84 through 96
8.40
7.80
7.30
more than 96 through 108
9.20
8.60
8.10
more than 108 through 120
10.00
9.40
8.90
F. Notwithstanding any other provision of law to the contrary, an extender of credit may offer any insurance authorized by the Louisiana Insurance Code in connection with any extension of credit subject to this Chapter.
Acts 1999, No. 794, §1, eff. July 2, 1999.
Status: in_force · Read it on the official government site
Need a lawyer in Louisiana?
Find a Louisiana lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.