KRS 304.16-220: Information to debtor.

A policy issued to a creditor to insure debtors of such creditor shall contain a provision

that the insurer will furnish to the policyholder for delivery to each debtor insured under

the policy a form which will contain a statement that the life of the deb tor is insured

under the policy and that any death benefit paid thereunder by reason of his death shall be

applied to reduce or extinguish the indebtedness.