Dont Buy Credit Card Life and Disability Insurance

life and disability insurance

Dont Buy Credit Card Life and Disability Insurance

You would never take out an insurance policy on behalf of your bank and pay its premiums, would you? But thats exactly what youre doing when your credit card company convinces you to buy life and disability insurance. The sales pitch plays upon fears of the unknown:

• What if you became ill or disabled and couldnt make your monthly minimum payments?


• Wouldnt you want the peace of mind knowing that an insurance policy will make those payments for you so your credit rating remains in good standing?

If you lose your life, your family would not have to make your minimums either. All for a low, percentage-of-your-balance fee.

Photo by Classyshot via Flickr

But what youre really doing is making sure your creditor gets paid should something happen to you. And only th... http://insurance-h.ucoz.com/news/life_and_disability_insurance/2013-06-25-3694