Unconscionability Resulting From Insurance Charge

(1)In applying the provisions of this Act on unconscionability (§§ 5106 and 6111) to a separate charge for insurance, consideration shall be given among other factors, to:

(a)potential benefits to the debtor including the satisfaction of his obligations;

(b)the creditor's need for the security provided by the insurance; and

(c)the relation between the amount and terms of credit granted and the insurance benefits provided. COL120106 CH. 4 INSURANCE

(2)If the consumer credit insurance otherwise complies with this Chapter, neither the term nor the amount of the insurance is of itself unconscionable.