Credit term life insurance is generally more expensive per dollar of coverage than similar types of term insurance.

Question

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Credit term life insurance is usually more expensive because it is designed to pay off a specific debt, such as a mortgage or car loan, in the event of the policyholder's death. This type of insurance is offered by lenders and credit card companies and may have limited coverage options. On the other hand, traditional term life insurance policies offer more flexibility in coverage amounts and can be tailored to meet individual needs, making them usually a more cost-effective option.

Credit Term Life Insurance Is Generally More Expensive Per Dollar