Credit life insurance is generally a good buy for the borrower.

Name: Credit life insurance is generally a good buy for the borrower.
Brand: Quizplus
Rating: 4.8 (59 reviews)

Question

Quizplus · Accepted Answer

Credit life insurance is usually unnecessary and expensive for borrowers as it only covers the outstanding debt if the borrower dies. It is often cheaper to purchase a term life insurance policy that covers all debts and expenses. Additionally, some lenders may try to push credit life insurance on borrowers without fully explaining the terms or benefits.

Credit Life Insurance Is Generally a Good Buy for the Borrower