The beneficiary in credit life insurance is the lender through which your credit was obtained. The face amount of the policy reduces as your unpaid debt reduces.
On the other hand, the beneficiary for regular life insurance is whoever you choose. They can pay off your credit card and use the remainder of the death benefit for other expenses.
.JPG){kind=avatar}
On the other hand, the beneficiary for regular life insurance is whoever you choose. They can pay off your credit card and use the remainder of the death benefit for other expenses.