Credit Insurance Disclosures

If a commercial loan is made and made in the name of two individuals, can or do the credit insurance disclosures need to be given out?

Thank you

If you are referring to the Consumer Protection in Sales of Insurance Act, it pertains only to insurance sold primarily for personal, family or household purposes. If the insurance is covering commercial debt, then no.....no disclosures required.....at least that is how I interpret it.

§ 343.20 Definitions.

As used in this part:

(a) Affiliate means a company that controls, is controlled by, or is under common control with another company.

(d) Consumer means an individual who purchases, applies to purchase, or is solicited to purchase from you insurance products or annuities primarily for personal, family, or household purposes.

That's what I was looking for.