69O-124.023. Qualification for Student Loan Not Contingent on Purchase of Insurance from Insurance Company

Concurrent with the solicitation of an application for an insurance product that is marketed in conjunction with obtaining a student loan from the same insurance company, the insurance company shall provide the applicant with a written disclosure form as provided in rule 69O-124.024, F.A.C., herein. In the event an applicant refuses to sign the form, the insurance company shall be precluded from selling an insurance policy to the loan applicant unless the company’s representative indicates at the bottom of the form that the applicant refuses to sign the form, lists the names of the applicant and the company representative who discussed the form with the applicant, indicates the date the form was discussed with the applicant, and the reason, if any, given by the applicant as to why he or she refuses to sign the form. Each participating insurance company shall maintain said form on file for the life of any and all policies that are written on behalf of the applicant.

Rulemaking Authority 624.308(1) FS. Law Implemented 624.307(1), 626.9541(1)(a), 626.9551(1)(a) FS. History–New 11-24-85, Formerly 4-64.03, 4-64.003, 4-124.023.