Avoid telemarketers for a credit insurance policy !

Posted: Wed May 14, 2008 08:18 pm Post Subject:

Wow, quite a nonsensical day we're having on the forums!

I'll just say that I don't think these credit-card offered plans are that great, it's really just an added revenue for the card-issuer. Not to negate your point, Simon, as it is valid but I think you describe it as a greater benefit to the seller than the buyer to have such coverage in place.

If you are concerned about your ability to pay your bills in the event you become disabled there is a mainstream life insurance product designed for that purpose. It's called Disability Income and will pay more than just your credit card monthly minimums. If you are worried about your family's ability to cover expenses in the event of your death, buy a life insurance policy.

Unless of course if your Visa bill is the only bill that you would not be able to afford if you were disabled, then the card issuer's coverage is probably more cost effective. Of course I've never met anyone in that sort of cash position who carries a balance on a credit card.

Oh, and Chargersfan,
Credit-Life coverage used to be practically automatic with loans but now days fewer and fewer banks are offering it at all. And again, even if you have this on your loan, you're paying for it and for what you're paying, or just a little more, you probably could have bought a term life policy that would pay off your car loan and a whole lot more.

Posted: Thu May 15, 2008 04:36 am Post Subject: insurance

I do have this policy, on my loan. ..the 'disable part' i mean. And, yes, i am paying or it. If, GOD FORBID something happens to me, i wouldn't want someone to have to make the payments on it. Also...my Military Life Insurance would cover SOOO much bills and have quite a bit left over.

Posted: Sun May 25, 2008 06:04 pm Post Subject: Is it!

I still wonder is it good to have this insurance

Posted: Mon May 26, 2008 09:33 am Post Subject: insurance

I don't know if it would be good to ahve it on a Credit Card, etc. but...i think it's good to have 'Disibility' Insurance on any kind of loan, you may have. Ya know?

Posted: Mon May 26, 2008 02:56 pm Post Subject: yes

Yes, I do have that on my credit card. Is this similar to that?

Posted: Wed Apr 15, 2009 09:09 am Post Subject: ?

how would you definitively know if you have credit/ disability insurance through your homeowners/umbrella policies through your insurance agency or through your mortgage provider & please dont say ask the provider insurances wish to collect money not pay bad faith is discustingly rampant

Posted: Wed Apr 15, 2009 10:58 am Post Subject:

If you are not interested in asking the insurer then you have to read through your policy document to know more. I'm not sure what are you referring as 'bad faith'. Have you faced any problem with a claim?

Posted: Wed Apr 15, 2009 02:22 pm Post Subject:

Hi,

IMO 'Bad faith' amounts to someone's failure to live up to his promises.

Such claims may arise when the insured starts believing that his insurance carrier is not interested to process his claim. Such belief may count upon fraudulent motives and hence need to be pursued in the court of law.

Roddick

Posted: Fri Apr 17, 2009 03:06 pm Post Subject:

Hey SD..it's not at all right to add anything on your credit-card until you've clearly understood what it really is!

I don't know if it would be good to ahve it on a Credit Card, etc. but...i think it's good to have 'Disibility' Insurance on any kind of loan, you may have. Ya know?

Posted: Sat May 19, 2012 11:36 am Post Subject: