{"data":{"id":"us-il/215-ilcs-5-155.54","jurisdiction":"us-il","citation":"215 ILCS 5/155.54","heading":"","body":"Amount of credit life insurance and credit accident and health insurance.) (a) Credit Life Insurance\nThe amount of credit life insurance shall not exceed the initial indebtedness.\nWhere an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amount of unpaid indebtedness, whichever is greater.\n(b) Credit Accident and Health Insurance\nThe total amount of indemnity payable by credit accident and health insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of the indebtedness and the amount of each periodic indemnity payment shall not exceed the original indebtedness divided by the number of periodic installments.","path":["CHAPTER 215 INSURANCE","Illinois Insurance Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=1249\u0026ChapterID=22\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:30Z","sha256":"7c41c8c3369ff9c0bd58b288a9642986cd410e27fb286bae410b3c7e27b35c06","source_id":"us-il","stale":false,"prev":"us-il/215-ilcs-5-155.53","next":"us-il/215-ilcs-5-155.55"},"notice":"GroundRules: Original legal text. Not legal advice."}