What is credit life insurance and credit disability insurance?
Credit life insurance pays off the balance of a particular debt if you pass away. Similarly, credit disability insurance helps cover loan payments if you're unable to work for a period of time.
Is credit life insurance necessary to obtain a loan?
You're never required to purchase credit life insurance from a lender in order to obtain a loan. While a lender may require you to have insurance on certain items that are used to secure a loan, such as your car or home, you're free to shop elsewhere for the policy.
Can you get credit life & credit disability insurance after you buy a car?
Yes, you can buy credit life and/or credit disability insurance after you buy a car.
If you have questions about credit life and/or credit disability insurance, or would like additional information, please contact one of our lenders.