Credit Contracts and Consumer Finance Act 2003

If you need more information about this Act, please contact the administering agency: Ministry of Business, Innovation, and Employment
53 Termination of consumer credit insurance contract

A consumer credit insurance contract financed under a consumer credit contract is terminated on the full prepayment of the consumer credit contract unless the consumer credit insurance contract—

(a)

provides insurance cover in connection with 1 or more other credit contracts; or

(b)

otherwise provides a benefit to, or insurance cover for, the debtor.