What is credit life insurance?
The Bankrate.com financial term of the day is: "credit life insurance."
If you die, will your family have trouble keeping up the mortgage and holding on to the house? If the answer is yes, you may want to consider credit life insurance. It's coverage that completely or partially pays off a loan following the death of the borrower. Some lenders require credit life insurance, which can be rolled into the loan. The Federal Trade Commission warns consumers that the insurance can be expensive and that it may make more financial sense to buy additional standard life insurance instead.
Credit life insurance is designed to cover a debt in case of death, but it may not be the wisest investment.
To shop for insurance to fit your family's needs, visit the Insurance section at Bankrate.com.
Get in the habit of reviewing your policies annually -- you could save money by doing so.
Most women don't have a policy or are under-insured.
Not sure when to review your insurance policy? Experts share their thoughts on when to do so.
Do you have a life insurance policy for your dependents? Is it enough?
Shopping for insurance? Follow these tips from top experts in the insurance field.
You've still got plenty of time. Take advantage of tax-favorable vehicles such as a 401(k) plan and IRA.
Mortgage rates jumped for a second straight week.
CD yields continued their erosion this week.
Finding a trusted financial adviser can be well worth the fees in the long run.
Follow these tips to choose from the many different funds to invest in for your 401(k).
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