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Credit Life Insurance
is a type of life insurance which pays the balance owed on your
mortgage in the event of your death. Many mortgage companies offer
to sell you this insurance. You are not required to buy it and if
you do want it, you can purchase similar insurance through other
sources. You may be able to find regular term life insurance cheaper
than buying credit life insurance through your bank or mortgage
company.
Portions of
this page are reprinted with the permission of CATIC.
The information
you obtain at this site is not, nor is it intended to be legal advice.
You should consult an attorney for individual advice regarding your
own situation.
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