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Insurance Definition: CREDIT LIFE INSURANCE

By Compuquotes Team on March 27th, 2008

CREDIT LIFE INSURANCE:

Definition:

  • Life insurance coverage on a borrower designed to repay the balance of a loan in the event the borrower dies before the loan is repaid. It may also include disablement and can be offered as an option in connection with credit cards and auto loans.

Information provided by Insurance Information Institute

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