54.1. Where life, health, accident or employment insurance in respect of the consumer is established for the benefit of the merchant under a credit contract, and where the insurance premium constitutes credit charges within the meaning of sections 69 and 70 of the Act, and credit charges arising from payment of the premium by the merchant are imposed to the consumer, the merchant must disclose in the contract, as components of the credit charges, both the amount of the premium and the cost of the credit charges related thereto, and must include both components in the total credit charges, as well as for the purpose of calculating and disclosing the credit rate in accordance with the Act.
O.C. 848-94, s. 5; O.C. 994-2018, s. 351.