This life insurance is used to pay off certain debts, such as auto loans, in the event that you die before the debts are paid in full. Which of the following is not the best buy for the amount of protection offered for an individual?

Question

Quizplus · Accepted Answer

Credit life insurance is typically not the best buy for the amount of protection offered because it is designed to pay off a specific debt, like an auto loan, if you die before the debt is paid off. The cost relative to the benefit is generally higher compared to other types of life insurance policies that offer more comprehensive coverage for the premiums paid.

This Life Insurance Is Used to Pay Off Certain Debts