With all of the various financial instruments on the market today, we sometimes get a niche question about, What is Credit Life Insurance?

After the explanation of exactly what credit life insurance is, we then get the next logical question(s): "Do I Need it?"  and then… "Can Credit Life Insurance Benefit Me in Any Way?"

A great article was written by the good people at Consumerism Commentary and hosted on the Forbes magazine website that helps to cover some of these questions, and addressess just who benefits from credit life insurance.

 

Credit Life Insurance: You Don't Need It

"So, like term life insurance, you could pay into a plan for several years with a good chance of never needing to or being able to make a claim. Here is a summary of the cons for buying credit life insurance. Keep this in mind the next time you visit a …"
http://www.forbes.com/sites/moneybuilder/2012/11/06/credit-life-insurance-you-dont-need-it/


Learn More About Credit Life Insurance on a Mortgage

 

As with any insurance product, it's imperative that you take the time and research if the particular insurance product is right for you.

Credit life insurance, as layed out in the article provided by Consummerism Commentary by way of Forbes, depicts a product that more than likely would not fit into a sensible insurance plan, as the benefits of the product lean far more towards the provider of the product, and not the consumer.  Let us know what you think about credit life insurance, if you find there are any personal benefits for you, and if you would consider adding it.

At SelectYourTerm, we are founded on providing sensible life insurance products and delivering customer service that is places you squarely in the drivers seat.

Contact us today for hassle free, educational term life insurance information.  Or, utilize our term life insurance coverage calculator and receive immediate help online!
 

Comments

  1. says

    While it’s a good idea to pay all your bills in a timely manenr, things like your insurance, rent, utilities, etc don’t report timely payment to the credit bureaus and don’t impact your credit score.

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