WHAT IS CREDIT INSURANCE?
Credit insurance comes in several
different forms:
credit life insurance – the outstanding balance
is paid in the event of your death. credit
accident and health insurance – monthly credit
payments are made for you during periods when
you are unable to work due to accident or
illness. Credit unemployment insurance – monthly
credit payments are made for you during periods
when you are unemployed.
Your acceptance or rejection of credit insurance
normally is not used as a factor by the creditor
in deciding whether to extend credit to you.
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