South Carolina § 34-29-162 - Refinancing loan; nonlapsed insurance coverage.
Full text of South Carolina South Carolina Code of Laws § 34-29-162 — Refinancing loan; nonlapsed insurance coverage., with citation guidance and answers to common questions.
§ 34-29-162. Refinancing loan; nonlapsed insurance coverage.
If a consumer defers, refinances, or consolidates a loan and the insurance coverage upon the original loan has not lapsed:
(1) incontestability and waiting periods for insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, must be based upon the date on which the insurer originally insured the debtor with respect to the insurance coverage on the indebtedness that is deferred, refinanced, or consolidated; and
(2) the insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, on the indebtedness that is deferred, refinanced, or consolidated may not be subject to evidence of insurability.
The provisions of this section do not apply to insurance for which no identifiable charge is made to the debtor.
HISTORY: 1999 Act No. 66, SECTION 3, eff January 1, 2000.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 34-29-162
What does South Carolina Code of Laws § 34-29-162 cover?
Section 34-29-162 ("Refinancing loan; nonlapsed insurance coverage.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 34-29-162?
A common citation format is "South Carolina Code of Laws § 34-29-162" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 34-29-162 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.