# WV Informational Letter No. 15: West Virginia Administrative Regulation Of Credit Life And Credit Accident And Sickness Insurance > West Virginia · Agency guidance · In force URL: https://www.frixlaw.com/law-library/statutes/WV_INS_IL_15 ## Section - **Citation:** WV Informational Letter No. 15 - **Heading:** West Virginia Administrative Regulation Of Credit Life And Credit Accident And Sickness Insurance - **Jurisdiction:** West Virginia - **Kind:** Agency guidance - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** West Virginia Offices of the Insurance Commissioner Bulletins and Informational Letters / West Virginia Administrative Regulation Of Credit Life And Credit Accident And Sickness Insurance ## Text WEST VIRGINIA INFORMATIONAL LETTER INSURANCE COMMISSIONER No. 15 November, 1982 WEST VIRGINIA ADMINISTRATIVE REGULATION OF CREDIT LIFE AND CREDIT ACCIDENT AND SICKNESS INSURANCE It has come to the attention of the West Virginia Insurance Commissioner that some uncertainty exists among many insurers in regard to the prima facie reasonable rates of credit life insurance, as set forth in the Administrative Regulations of the Insurance Commissioner, Series 6 (1968), as amended, Sections 6:01 and 6:07. This uncertainty appears to be especially prevalent for insured debtors ages 66-70, but is not restricted to this age group. Section 6:01 states, in part: "A single premium rate of 65 cents per annum per $100.00 of decreasing term life insurance. . . shall be deemed prima facie reasonable. .. ." And: "A single premium rate of $1.00 per annum per $100.00 of decreasing term joint life insurance . . . shall be deemed prima facie reasonable... ." Section 6:07 states, in part: "An insurer may receive approval of a higher premium rate to be used, on a credible case, or a class of business . . . if the insurer demonstrates, to the satisfaction of the Commissioner, that the mortality or morbidity experience will or can reasonably be expected to produce a loss ratio of 50% . . . ." Please be advised that only those premium rates as stated in Section 6:01 of the aforementioned Administrative Regulation are deemed to be prima facie reasonable. The use of any deviated rates, as addressed in Section 6:07 of said Regulation, must receive the formal (written) approval of the Insurance Commissioner prior to use by that particular insurer. You are hereby notified that the use of premium rates for credit life insurance which do not comply with the Administrative Regulation of the Insurance Commissioner, Series 6 (1968), as amended, may result in disciplinary action. Address any inquiries to the Rates and Forms Division of the West Virginia Insurance Department. Richard G. Shaw Insurance Commissioner ## Nearby sections - [WV Informational Letter No. 6 Excessive Charges By Agents](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_6.md) - [WV Informational Letter No. 10 Valued Policy Law](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_10.md) - [WV Informational Letter No. 15 West Virginia Administrative Regulation Of Credit Life And Credit Accident And Sickness Insurance](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_15.md) - [WV Informational Letter No. 25 Brief Summary Of Significant Insurance Legislation Enacted During The 1984 Regular Session Of The WV Legislature](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_25.md) - [WV Informational Letter No. 32 Compulsory Motor Vehicle Liability Insurance - Statute](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_32.md) - [WV Informational Letter No. 33 Brief Summary Of Significant Insurance Enacted During The 1985 Regular Session Of The WV Legislature](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_33.md) - [WV Informational Letter No. 38 Brief Summary Of Significant Insurance Legislation Enacted During The 1986 Regular Session And First Extraordinary Session Of The WV Legislature](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_38.md) - [WV Informational Letter No. 39 Cancellation Or Nonrenewal Of Automobile Liability Or Physical Damage Insurance Policies](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_39.md) - [WV Informational Letter No. 42 Brief Summary Of Significant Insurance Legislation Enacted During The 1987 Regular Session Of The West Virginia Legislature.](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_42.md) - [WV Informational Letter No. 43 Mass Marketed Life And Health Insurance Filing Abstracts](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_43.md) - [WV Informational Letter No. 43SUP Senate Bill No. 487 -- Disclosure Information Concerning Mass Marketed Life And Health Insurance Filing Abstracts](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_43SUP.md) - [WV Informational Letter No. 45B Disapproval Of Policies By Lienholders due to lack of A.M. Best Rating, §33-11-5(b)(2) of the West Virginia Code](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_45B.md) - [WV Informational Letter No. 48 Guidelines For Video-Cassette Commercials](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_48.md) - [WV Informational Letter No. 49 Complaints And Inquiries Concerning Agents Of The Insurer](https://www.frixlaw.com/law-library/statutes/WV_INS_IL_49.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/WV_INS_IL_15. Check the current official text before relying on it. Not legal advice.