What is credit life insurance?

Answer Credit life insurance is a form of coverage that is offered by lenders of certain types of loans. The borrower pays a premium in return for insurance protection in the event that he dies before the... Read More »

Top Q&A For: What is credit life insurance

What if you have disability insurance and become disabled can they take your car your credit and still ask for money when the disability insurance was purchased to cover that type of event in life?

It is your responsibility to see that the DI pays you and YOU pay the payments on time. rem your agreement with the lender stated that YOU would make the payments on a certain date. HOW you get tha... Read More »

How much is credit life insurance on a house?

If your down payment is less than 20 percent, "credit life insurance," also known as Property Mortgage Insurance (PMI), is required by most lenders. The approximate rate is 0.5 percent of your loan... Read More »

Can bad credit stop you from selling life insurance?

Insurance companies quite often use credit scores and other information about a potential agent to determine if they would like to bring that person on as a producer. Bad credit may influence an ag... Read More »

Is it legal for life insurance companies to check your credit report?

The Fair Credit Reporting Act (FCRA) gives insurance companies the right to access your credit file in order to send you unsolicited insurance offers. Insurers can also check your credit if you fil... Read More »