Do you have Credit Life insurance?

In a nutshell, Credit Life is a form of insurance that pays off the outstanding loan balance in the event of death, disability or other insurance risks that impair the creditor’s ability to earn an income or meet their debt obligations.

Credit Life is often poorly understood with little knowledge of how it works or what the rights of the policyholder are. Traditionally, the most common way of acquiring a loan is through a bank or micro lender.