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What is credit life insurance?

Updated: 9/25/2023
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Wiki User

8y ago

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Joint credit life insurance is money paid to you or your spouse if either of your are ever arrested on drug charges.

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2y ago
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Q: What is credit life insurance?
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Related questions

What is the most commonly purchased type of credit insurance?

credit life insurance


What are the exclusions for credit life insurance?

What are the exclusions for obtaining credit life on a loan


Will bankruptcy remove life insurance loans?

Life insurance loans are not on your credit report.


What is joint credit life insurance?

Joint credit life insurance is money paid to you or your spouse if either of your are ever arrested on drug charges.


What insurance pays off a house in case of a spouses death?

Credit Life Insurance.


What is business credit insurance?

Business credit insurance is a type of insurance that is purchased by businesses selling to other businesses of open credit terms. Business credit insurance guarantees against their business having excessive losses due to their customers inability to pay for goods or services purchased on credit. It is sometimes calledaccounts receivable insurance or trade credit insurance. This should not be confused with consumer credit insurance (e.g. credit life) which is purchased by consumers.


What are the four major categories of life insurance?

There are four major categories of life insurance: ordinary, group, industrial, and credit


What effects the cost of life insurance?

Background and credit score.


What exactly is credit life insurance and would it be beneficial for a 51 year old homeowner to purchase it?

Credit life is insurance that will pay off the loan of your home should you die before mortgage is fully paid. It is usually put into the cost of the loan. It depends on the cost of the insurance if it is beneficial. It is sometimes better to buy straight life insurance. Credit life decreases as the loan decreases, straight life stays at the same benefit.


What kind of insurance would cover a mortgage in the event of a spousal death?

Credit life insurance, Mortgage insurance, or decreasing term insurance.


What insurance covers pay off on car in case of death?

It's called " Credit life insurance". pays off the car in the event of death and is sold by auto finance companies at the point of vehicle purchase.It is a nitch market not sold by typical insurance companies.


Is Commercial Credit Insurance casualty insurance?

Credit insurance is a type of life insurance policy purchased by a borrower that pays off one or more existing debts in the event of a death, disability, or in rare cases, unemployment. Credit insurance is marketed most often as a credit card feature, with the monthly cost charging a low percentage of the card's unpaid balance.