# Fla. Stat. § 627.655: 627.655 Debtor groups

> Florida · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.655

## Section

- **Citation:** Fla. Stat. § 627.655
- **Heading:** 627.655 Debtor groups
- **Jurisdiction:** Florida
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Florida Code / Title XXXVII / Chapter 627 / Part VII / Section 627.655

## Text

A group of individual debtors of a creditor may be insured under a policy issued to a creditor under which the debtors are indemnified in connection with a specific loan or credit transaction against loss of time resulting from bodily injury or sickness. The creditor is deemed the policyholder of a policy issued pursuant to this section. Two types of insurance may be used to insure against the occurrence of disability of the lives of a group of individual debtors pursuant to this section as follows:

(1) Credit disability insurance as defined in s. 627.677. The debtors eligible for insurance under this section are all of the debtors of the creditor, or all members of any class or classes of debtors of the creditor, determined by conditions pertaining to the indebtedness or to the credit transaction giving rise to the indebtedness. A policy issued pursuant to this section may insure the debtors of one or more subsidiary or affiliated corporations, proprietors, or partnerships, if the business of the creditor and of such subsidiary or affiliated corporations, proprietors, or partnerships is under common control. A policy may be issued pursuant to this section only if the group of eligible debtors is then receiving new entrants at the rate of at least 100 persons yearly, or may reasonably be expected to receive at least 100 new entrants during the first policy year, and only if the policy reserves to the insurer the right to require evidence of individual insurability if less than 75 percent of the new entrants become insured.

(2) Mortgage insurance as defined in s. 627.982. The debtors eligible for insurance under the policy are all of the debtors of the creditor, or all of any class or classes of debtors of the creditor. The term “debtors” includes borrowers of money in connection with an indebtedness of more than 10 years’ duration, which indebtedness is secured by a first real estate mortgage and which indebtedness is not subject to part IX.

History: s. 588, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 523, 809(2nd), ch. 82-243; s. 79, ch. 82-386; ss. 64, 114, ch. 92-318.

## Nearby sections

- [Fla. Stat. § 627.651 627.651 Group contracts and plans of self-insurance must meet group requirements.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.651.md)
- [Fla. Stat. § 627.652 627.652 Group health insurance; definitions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.652.md)
- [Fla. Stat. § 627.653 627.653 Employee groups.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.653.md)
- [Fla. Stat. § 627.654 627.654 Labor union, association, and small employer health alliance groups.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.654.md)
- [Fla. Stat. § 627.655 627.655 Debtor groups.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.655.md)
- [Fla. Stat. § 627.656 627.656 Additional groups.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.656.md)
- [Fla. Stat. § 627.657 627.657 Provisions of group health insurance policies.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.657.md)
- [Fla. Stat. § 627.658 627.658 Use of dividends, refunds, rate reductions, commissions, service fees; premium rates.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.658.md)
- [Fla. Stat. § 627.659 627.659 Blanket health insurance; eligible groups.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.659.md)
- [Fla. Stat. § 627.660 627.660 Conditions and provisions of blanket health insurance policies.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.660.md)
- [Fla. Stat. § 627.661 627.661 School accident insurance claims; policy service.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.661.md)
- [Fla. Stat. § 627.662 627.662 Other provisions applicable.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.662.md)
- [Fla. Stat. § 627.663 627.663 Franchise health insurance.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.663.md)
- [Fla. Stat. § 627.664 627.664 Assignment of incidents of ownership in group, blanket, or franchise health policies.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.664.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C627_PVII_S627.655. Check the current official text before relying on it. Not legal advice.