Avoid telemarketers for a credit insurance policy !

Posted: Tue May 30, 2006 10:36 am Post Subject: the greater impact of credit insurance

Can you tell me my friend, why should a person go for a credit insurance policy ? Won't he find a much cheaper way out through his life insurance and disability insurance policies ?

This is the time for you to realize that a credit insurance policy is an assurance even for a person who may not even find any other insurance to cover the credit balance. This greater impact of the credit insurance can be easily understood from the higher rates of premium offer by it. Hence I find no reason why a healthy person should maintain such an absurd thing for long !

Posted: Tue May 30, 2006 11:01 am Post Subject: a wholesome explanation !

Guys...could anyone offer me a wholesome explanation of the credit insurance ? And also let me know about the premiums that I'm supposed to pay once I opt for such a policy !

awaiting your responses,
Clement

Posted: Tue May 30, 2006 11:34 am Post Subject: Credit insurance can be defined.

Credit insurance can be defined as the policy that pays off the debt (loan or credit) if the borrower dies, lose his job or become disabled. The revolving credit card debt protection is calculated for each month to cover only the debt amount that existed at the last billing cycle.
As far as the monthly premiums are concerned, they are calculated upon the credit balance of the consumers or the amount of credit already used by them. It is up to the consumers to use their credit in a way so as to keep their premiums low as far as possible.

Posted: Wed May 31, 2006 07:12 am Post Subject:

Hi guys ! if that's the case, then do I suppose that Credit insurance is not at all helpful to anyone ? Plz help.
Florence

Posted: Wed May 31, 2006 08:17 am Post Subject: protection from weaker clients

Not At All !
Please try and understand that Credit insurance is always helpful as it enables the companies to get protected from a weaker client for the future. Whenever the customers are not making proper payments in time, this insurance would surely help protect the sellers' interests. Some industries with huge credit exposures also get benefited from this since they would often ignore their clients' monetary status and then suffer later on.
thanks a lot..

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Posted: Mon Mar 10, 2008 01:30 am Post Subject: insurance

I thought this kind of policy was automatic, if you get a loan (ie.vehicle,etc.). I have one, with my car loan. God forbid, if anything happens to me, my car loan is paid off.