1. 15645 POINTS
    Edward HarrisPRO
    Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
    Credit Life Insurance is a policy that pays off a borrower's debt if he/she dies. Is it a good idea? I suppose, if you died, in retrospect it was! However, the beneficiary often is the creditor and not someone you can choose.

    However, typically, rates on this type of policy are higher than what you may be able to get from a broker or agent. However, if you are guaranteed to be accepted and you have major health issues, it should be considered.
    Answered on June 4, 2013
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