Posted on: 06th Aug, 2009 07:21 pm
Is it compulsory to buy credit insurance?
Does it help me, if I amnot able tp pay my credit cards or car loan?
Does it help me, if I amnot able tp pay my credit cards or car loan?
Hi credithungry,
Credit insurance is a type of insurance coverage which is available for both individuals as well as businesses. This insurance protects the policy holder in case he/she is unable to pay the outstanding debt due to any incident which is covered within the terms of the policy. Some of the factors which is covered in the credit insurance policy include death of the insured party, loss of a job, or an accident that disables the policyholder. If credit cards or car loans are covered within your policy, then you would receive the benefit.
Thanks
Credit insurance is a type of insurance coverage which is available for both individuals as well as businesses. This insurance protects the policy holder in case he/she is unable to pay the outstanding debt due to any incident which is covered within the terms of the policy. Some of the factors which is covered in the credit insurance policy include death of the insured party, loss of a job, or an accident that disables the policyholder. If credit cards or car loans are covered within your policy, then you would receive the benefit.
Thanks
credit insurance is not a requirement. most coverages can be duplicated at a far cheaper price with a regular insurance agent, so shop around before you think about purchasing this insurance directly from a lender.
Who else can sell it ?
As far as I know, you'll have to contact your insurance agent and check out whether or not he would offer you a credit insurance.
"regular insurance agent."
please see above.
please see above.