DEPARTMENT OF REGULATORY AGENCIES
Division of Insurance
3 CCR 702-4
lIFE, ACCIDENT AND HEALTH
Proposed Amended Regulation 4-9-2
CREDIT INSURANCE
Section 1	Authority
Section 2	Scope and Purpose
Section 16	Effective Date
Section 17	History
Appendix 1	Summary of Component based rates 
Section 1	Authority
This regulation is promulgated under the authority of §§10-1-109, 10-10-109(2.5)(c) and 10-10-114, C.R.S. 
Section 2	Scope and Purpose
The purpose of this regulation is to implement component rating and provide standards to enforce the provisions of Article 10 of Title 10, C.R.S., regarding all forms of credit insurance.  
Section 16.	Effective Date
This regulation shall become effective on December 31, 2006. December 31, 2007.  
Section 17.	History
New Regulation 74-1 effective March 15, 1974.
Amended effective December 22, 1975.
Amended effective July 1, 1979.
Amended effective January 1, 1985.
Regulation 74-1 was renumbered 4-9-1, effective June 1, 1992.
Regulation 4-9-1 was repealed effective October 9, 1992.
New Regulation 4-9-2, effective October 9, 1992.
Amended effective April 1, 1993.
Amended effective November 1, 2000.
Amended effective December 1, 2002.
Amended effective January 1, 2006.  
Amended effective December 31, 2006.
Amended effective December 31, 2007.  

APPENDIX 1

All Rates Listed in Sections 1 through 9 10 are for Single Life Coverage.  

7.	Monthly Premium Disability Insurance  (premium base = monthly payment amount)
 	 Rates per $100 of Monthly Payment - Not for use by Credit Union Accounts.

7A.	Full Benefit Rates or the End of the Loan Term -  Rates per $100 of Monthly Payment - Not for use by Credit Union Accounts

		a. Duration specific rates

Months	14 
Retro	14 
Non-Retro	30 
Retro	30
 Non-Retro	
6	1.55 	1.08 	1.21 	0.68 	
12	2.07 	1.55 	1.72 	1.11 	
24	2.65 	2.08 	2.28 	1.62 	
36	3.07 	2.47 	2.69 	2.01 	
48	3.45 	2.83 	3.06 	2.36 	
60	3.81 	3.17 	3.42 	2.70 	
72	4.17 	3.50 	3.76 	3.03 	
84	4.52 	3.82 	4.10 	3.35 	
96	4.86 	4.14 	4.44 	3.67 	
108	5.21 	4.46 	4.78 	3.99 	
120	5.54 	4.77 	5.11 	4.31 	

b. Composite term rates for all durations  

14
 Retro	14
 Non-Retro	30
 Retro	30
 Non-Retro	
3.47 	2.85 	3.08 	2.38 	

7B.	Benefit Limited to the Lesser of 12 months or the End of the Loan Term -  Rates per $100 of Monthly Payment - Not for use by Credit Union Accounts

a. Duration specific rates

Months	14 
Retro	14
 Non-Retro	30 
Retro	30 
Non-Retro	
6	1.55 	1.08 	1.21 	0.68 	
12	2.07 	1.55 	1.72 	1.11 	
24	2.45 	1.92 	2.09 	1.48 	
36	2.58 	2.03 	2.21 	1.59 	
48	2.64 	2.09 	2.27 	1.65 	
60	2.67 	2.12 	2.30 	1.69 	
72	2.69 	2.15 	2.32 	1.71 	
84	2.71 	2.16 	2.34 	1.72 	
96	2.72 	2.17 	2.35 	1.73 	
108	2.73 	2.18 	2.35 	1.74 	
120	2.73 	2.18 	2.36 	1.74 	

b. Composite term rates for all durations  

14
Retro	14
Non-Retro	30
Retro	30
Non-Retro	
2.60 	2.06	2.23	1.62	

7C.	Benefit Limited to the Lesser of 24 months or the End of the Loan Term -  Rates per $100 of Monthly Payment - Not for use by Credit Union Accounts

a.	Duration specific rates

Months	14 
Retro	14
 Non-Retro	30 
Retro	30 
Non-Retro	
6	1.55 	1.08 	1.21 	0.68 	
12	2.07 	1.55 	1.72 	1.11 	
24	2.65 	2.08 	2.28 	1.62 	
36	2.95 	2.37 	2.58 	1.92 	
48	3.10 	2.52 	2.72 	2.06 	
60	3.19 	2.60 	2.81 	2.15 	
72	3.24 	2.65 	2.86 	2.20 	
84	3.28 	2.69 	2.89 	2.24 	
96	3.31 	2.71 	2.92 	2.26 	
108	3.32 	2.73 	2.94 	2.28 	
120	3.34 	2.74 	2.95 	2.29 	

b. Composite term rates for all durations  

14
 Retro	14
 Non-Retro	30
Retro	30
Non-Retro	
3.03 	2.45 	2.65 	2.00 	

7D.	Benefit Limited to the Lesser of 36 months or the End of the Loan Term -  Rates per $100 of Monthly Payment - Not for use by Credit Union Accounts

a.	Duration specific rates

Months	14 
Retro	14
 Non-Retro	30 
Retro	30 
Non-Retro	
6	1.55 	1.08 	1.21 	0.68 	
12	2.07 	1.55 	1.72 	1.11 	
24	2.65 	2.08 	2.28 	1.62 	
36	3.07 	2.47 	2.69 	2.01 	
48	3.36 	2.71 	2.98 	2.29 	
60	3.53 	2.88 	3.14 	2.46 	
72	3.64 	2.98 	3.25 	2.56 	
84	3.71 	3.05 	3.32 	2.63 	
96	3.76 	3.10 	3.37 	2.68 	
108	3.80 	3.14 	3.40 	2.71 	
120	3.83 	3.16 	3.43 	2.74 	

b. Composite term rates for all durations  

14
Retro	14
Non-Retro	30
Retro	30
Non-Retro	
3.26 	2.64 	2.88 	2.20 	

7 8.	Single Premium Unemployment Insurance  (Note – this is a per claim benefit, but is refreshable after a 31 day back to work event.) 

7 8A.	30 Day Retroactive, 6 Month Benefit – Without coverage for family leave:  
$2.15 per $100 initial gross indebtedness per year.
7 8B.	30 Day Retroactive, 6 month Benefit - With coverage for family leave:  
$2.34 per $100 initial gross indebtedness per year.
7 8C.	30 Day Retroactive, 9 Month Benefit – Without coverage for family leave.  
$2.76 per $100 Initial gross indebtedness per year.  
7 8D.	30 Day Retroactive, 9 Month Benefit – With coverage for family leave.  
$2.95 per $100 initial gross indebtedness per year.  
7 8E.	90 Day lump sum benefit:  
$2.79 per $100 initial gross indebtedness per year.

8 9.	Monthly Outstanding Balance Unemployment Insurance

8 9A.	30 Day Retroactive, 6 Month Benefit – Without coverage for family leave:  
$1.79 per $1,000 of remaining principal balance
$1.52 per $1,000 of remaining payments
8 9B.	30 Day Retroactive, 6 month Benefit - With coverage for family leave:  
$1.95 per $1,000 of remaining principal balance
$1.66 per $1,000 of remaining payments
8 9C.	30 Day Retroactive, 9 Month Benefit – Without coverage for family leave.  
$2.30 per $1,000 of remaining principal balance
$1.95 per $1,000 of remaining payments
8 9D.	30 Day Retroactive, 9 Month Benefit – With coverage for family leave.  
$2.46 per $1,000 of remaining principal balance
$2.08 per $1,000 of remaining payments
8 9E.	90-day lump sum benefit:  
$2.33 per $1,000 of remaining principal balance
$1.97 per $1,000 of remaining payments

9 10.	Property – Dual Interest 

9 10A.	Single premium:
$2.18 per $100 Initial Gross Indebtedness per year.
9 10B.	Monthly outstanding balance:
$3.35 per $1,000 of remaining principal balance, $2.85 per $1,000 of remaining payments.

10 11.	Joint Life Factors for Life and Disability Coverages  Life and disability coverages may be offered on a joint life basis.  

10 11A.	For life coverage identified in Sections 1, 2, and 3.  The component based rate for joint lives, for the life insurance coverage listed in section 1, 2 and 3, is obtained by multiplying the listed single life rate by 1.65.
10 11B.	For life coverage identified in Sections 4, 5, and 6.  The component based rate for joint lives, for the disability insurance coverages listed in Section 4., 5., and 6., is obtained by multiplying the listed single life rate by 1.75.