) Except as provided in Subsection (2):
(a) in the case of credit life insurance, the amount of insurance may not initially exceed the debt and, if the debt is payable in installments, may not at any time exceed the greater of the scheduled or actual amount of the debt; or
(b) in the case of any other consumer credit insurance, the total amount of periodic benefits payable may not exceed the total of scheduled unpaid installments of the debt, and the amount of any periodic benefit may not exceed the original amount of debt divided by the number of periodic installments in which it is payable.
(2) If consumer credit insurance is provided in connection with a revolving charge account or revolving loan account, or in connection

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with a commitment to grant credit in the future, the amounts payable as insurance benefits may be reasonably commensurate with the total from time to time of the amount of debt and the amount of any commitment. If the debt or commitment is primarily for an agricultural purpose, and there is no regular schedule of payments, the amounts payable as insurance benefits may equal the total of the initial amount of debt and the amount of any commitment.

(3) The excess amount of a charge for insurance provided for in agreements in violation of this Section is an excess charge for the purposes of the provisions of the Chapter on Remedies and Penalties (Chapter 5) as to the effect of violations on rights of parties (§ 5201) and of the provisions of the Chapter on Administration (Article 6) as to administrative enforcement orders (§ 6108) and as to civil actions by the Administrator (§ 6113).