Should i get Credit Life Insurance

Author: loot
Posted: Wed Dec 24, 2003 4:35 pm
Post subject: Credit life

Should one purchase it?



Author: Guest
Posted: Wed Mar 17, 2004 12:58 am
Post subject: Credit Life Insurance

~~~~~(1*} It runs 2 to four times that of a level term life policy for the same dollar amount.
~~~~~(2*} You pay monthly interest on the higher priced credit life because the premium for the full term is added to the loan from the start. A 15 year loan would mean the entire 15 yr. premium added to your loan and charged the same interest rates as the loan. Now ain't that sweet you pay the insurer 15 years in advance and you get to pay em 15 years of interest for doing it.
Compare that with level term life. No advance payment required. no need to take out a loan to finance the premium. No interest on premium.
~~~~~(3*) Credit life beats you out of the unearned premium.
2*The best way is to add a level term rider to your current life insurance policy in the amount of the loan.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Remember FOLKS this inside scoop on credit life didn't come from your friendly banker or insurer.
><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- How many of you folks out there in consumer land have had your banker or insurer show you this little tid bit.??