The regulation Z rules that require special disclosures to keep the credit life fees out of the finance charge are triggered by the loan's Reg Z coverage. Thus, a business purpose loan that is exempt from Reg Z would not be subject to the special cost disclosures in 226.4 even though the insurance was being purchased by the consumer.
However, for purposes of disclosures about the non-insured status of non-deposit products, such as when the bank is selling the insurance, the rules make no distinction whatsoever on the nature of the customer or the purpose of the purchase. The NDIP rules are an FDIC deposit insurance issue and FDIC wants every possible customer -- business or otherwise -- to know that the product is not FDIC insured.