Sec. H-1. 24-A MRSA §2851, as repealed and replaced by PL 1981, c. 175, §3, is repealed and the following enacted in its place:
All life insurance and all health insurance in connection with loans or other credit transactions are subject to this chapter, except:
1. Long-term loan. Insurance in connection with a loan or other credit transaction of more than 15 years' duration;
2. Isolated transactions. Insurance issued in an isolated transaction on the part of the insurer not related to an agreement or a plan for insuring debtors of the creditor; or
3. Real estate loan. Insurance in connection with real estate loans when the charge, if any, to the debtor is periodic and not financed.
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