Ohio Code § 3918.05

§ 3918.05.

The term of any credit life insurance or credit accident and health insurance shall,

subject to acceptance by the insurer, commence on the date when the debtor becomes

obligated to the creditor, or the date from which interest or finance charges accrue

if later, except that, where a group policy provides coverage with respect to existing

obligations, the insurance on a debtor with respect to such indebtedness shall commence

on the effective date of the policy.  Where evidence of insurability is required and such evidence is furnished more than

thirty days after the date when the debtor becomes obligated to the creditor, the

term of the insurance may commence on the date on which the insurance company determines

the evidence to be satisfactory, and in such event there shall be an appropriate refund

or adjustment of any charge to the debtor for insurance.  The term of such insurance shall not extend more than fifteen days beyond the scheduled

maturity date of the indebtedness except when extended without additional cost to

the debtor.  If the indebtedness is discharged due to renewal or refinancing prior to the scheduled

maturity date, the insurance in force shall be terminated before any new insurance

may be issued in connection with the renewed or refinanced indebtedness.  In all cases of termination prior to scheduled maturity, a refund shall be paid

or credited as provided in section 3918.08 of the Revised Code .